Global Coal Production Takes a Dive
If the Trump administration wants to bring American jobs to the coal, it cuts its work.
Global coal production plunged by the highest percentage recorded in 2016 as part of energy demand and cleaner energy incursions, BP said on Tuesday. Coal production in the world has fallen by more than 6 percent as the percentage of world energy production by black rock fell to its lowest level since 2004, according to BP’s annual World Energy Statistical Review.
The slowdown in economic growth in China and coal mining in North America and Europe decreased fuel capacity, which led to a second consecutive year of decline. Globally, the share of coal in world energy consumption declined for the second consecutive year, down from 1.7% to 28.1%.
Much of the reason is that the amount of energy consumed by the world has not changed – it only increased by 1% by 2016, said Spencer Dale, BP’s chief economist, in comments accompanying the report.
“This is the third consecutive year that grew about 1 percent, or about half the rate we’ve seen in the last 10 years,” Dale said. Almost half of this percentage comes from China and India, which have developed rapidly over the last two decades.
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And while non-hydro renewable sources such as wind and solar represent only 4% of global energy in 2016, which accounted for almost a third of the increase in primary energy consumption. It reported an April report by Bloomberg new funding from the United Nations Environment and Energy analysts and the German Frankfurt School, who reported that renewable energy accounted for 55% of the new power capacity Last year, the prices of these technologies has declined to a great extent.
Despite the collapse of coal and the boom in renewable energy, fossil fuels still account for more than three-quarters of the world’s energy. But it will decline by about 85 percent by 2015, and renewable, hydro, and nuclear power should be half the growth in energy supply over the next two decades, BP said.
The combination of flat demand, reduced use of coal and increased online renewable energy means that the amount of carbon dioxide warming the planet against the use of energy increased only ten percent by 2016. This is the Third consecutive year in which emissions have been really flat, and the lowest growth in emissions of any three-year period since the early 1980s concluded BP.
In this year’s report, BP has reiterated its support for the climate deal in Paris, where almost every country is committed to reduce CO2 emissions or, at least, emissions growth. This statement comes two weeks after President Donald Trump – who was elected, in part, with the promise of reviving the incredible American coal industry – announced that his administration would abandon Paris.
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But sending more Americans into the mines may be an uphill road: United States coal production fell by 9% in 2016, and more power plants are moving to cheap natural gas, and BP’s’ expect the Consumption reached its peak in the mid-2020s.
China – now the largest source of carbon emissions in the world – has seen its coal consumption decline by 1.6% while economic growth has slowed. And Britain has burned less coal in 2016 than at any time since the early years of the industrial revolution: for one day in April, the country’s electricity sector has not used the whole, BP said.