Coal set to take over from oil as the dominant fuel

Within the next five years the dominance of oil as the biggest source of energy in the world is set to be threatened by coal which, according the leading authority in the world on energy economics, will spell disaster for the climate. One of the major factors in the increase in the use of coal has been the huge increase in shale gas usage in the US so says the latest research from the IEA, International Energy Agency.

The consumption of coal is increasing globally, even in those regions and countries with stringent carbon cutting targets, the notable absentee is the US who have displaced coal with shale gas. The decline of this fuel in the US has helped to cut the prices of coal across the globe, and this has made it a very attractive option, even in Europe where coal usage is supposed to be discouraged through the emissions trading scheme.

The executive director of the IEA is Maria van der Hoeven, and she has said that the share coal has in the global energy market is rising every year, and if no changes are made quickly to the policies that are currently in place, coal will catch up with, and may even pass, oil within the next 10 years.

Coal is a fuel that is found in abundance across the world and unlike gas and oil can be extracted cheaply. As a result of this, coal has been used in the past decade to meet almost half of the rise in demand for global energy and according to the IEA, the demand from India and China will drive up the usage of coal around the world in the next 5 years, which India on a course to see them overtake the US and become the world’s second largest coal consumer.

Within the next five years the dominance of oil as the biggest source of energy in the world is set to be threatened by coal which, according the leading authority in the world on energy economics, will spell disaster for the climate. One of the major factors in the increase in the use of coal has been the huge increase in shale gas usage in the US so says the latest research from the IEA, International Energy Agency.

The consumption of coal is increasing globally, even in those regions and countries with stringent carbon cutting targets, the notable absentee is the US who have displaced coal with shale gas. The decline of this fuel in the US has helped to cut the prices of coal across the globe, and this has made it a very attractive option, even in Europe where coal usage is supposed to be discouraged through the emissions trading scheme.

The executive director of the IEA is Maria van der Hoeven, and she has said that the share coal has in the global energy market is rising every year, and if no changes are made quickly to the policies that are currently in place, coal will catch up with, and may even pass, oil within the next 10 years.

Coal is a fuel that is found in abundance across the world and unlike gas and oil can be extracted cheaply. As a result of this, coal has been used in the past decade to meet almost half of the rise in demand for global energy and according to the IEA, the demand from India and China will drive up the usage of coal around the world in the next 5 years, which India on a course to see them overtake the US and become the world’s second largest coal consumer.