Coal May Become the Primary Energy Source

12/23/2012 6:21:22 PM

It’s reported that, the coal consumption will up to 4.32 billion tons in 2017, near the oil consumption of 44 million tons. The IEA Executive Director of the Maria van der Hoeven said that, if do not adjust the existing policy, the coal may replace oil as the main source of global energy within a decade. The report shows that the current coal accounted for 28% of global energy consumption, and has become a global power sources. China is the world's largest consumer of coal, accounting for about 46.2% of the total global consumption. By 2014, this proportion is likely to rise to 50%. India has the potential to replace the United States to become the second largest consumer of global coal in 2017.

IEA pointed out that demand for coal is on the rise around the world, and increased demand also led the United States to increase coal exports to Europe, so European coal prices increased sharply. Therefore, the related product (preheater and coal mill) of related industry will be more expensive than before.

The report also pointed out that in Europe's energy structure, coal also showed some advantages, which led to increased demand for coal. In the first half of 2011, Germany, United Kingdom and Spain had a substantial increase in the amount of coal for power generation, to reduce the amount of oil and gas generation. However, European demand for coal is also close to saturation. With renewable energy replacement, the European coal demand will decline in 2017, dropped to a level slightly above 2011.