Economics of the international coal trade : the renaissance of steam coal

著者

    • Schernikau, Lars

書誌事項

Economics of the international coal trade : the renaissance of steam coal

Lars Schernikau

Springer, c2010

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注記

Includes bibliographical references and index

内容説明・目次

内容説明

Coal, the catalyst of the industrial age, is now poised to shape how the world consumes energy in the twenty-?rst century. The ascendance of oil in the global economy to a looming peak is forcing countries, companies, and consumers to reconsider their relationship to something they cannot live without: energy. And whileothersourcesofenergy,suchasnuclear,naturalgas,andrenewables,willall play an ever greater role in serving demand, intelligent observers would be wise not to miss what is perhaps the clearest trend of all: the second coal era is now uponus. Thedevelopingworldisrapidlyelectrifyinginordertodriveeconomicgrowth. Andelectri?cationmeanscoal.ThisisparticularlytrueinIndiaandChina,where coaloffersthecheapestandmostreliableroutetoelectricpower.Thesetwoco- triesalonewilldrive80%ofcoalconsumptiongrowthto2030.TheInternational EnergyAgencyexpectsthatglobalcoalconsumptionwillincreaseby60%inthe nexttwodecades.LarsSchernikau'sTheRenaissanceofSteamCoalcouldnotcome atabettertime.Lars'skillintracingthelongarcofindustrialevolutionpairedwith his acute knowledge of the coal market make his arguments both insightful and highlycredible.Hebeginsbysuccinctlyframingtheproblemanddistillingourc- rentpredicament:wearecaughtbetween'theOilAge'andthe'theSolarAge'(by thishemeanstheageofrenewables). Wearealloptimiststosomedegree,butthe realistsamongusknowthatrenewableenergyisnotgoingtocompletely?llthis gapfordecades.Where,then,doesthisleaveus?ItleavesuswithTheRenaissance ofSteamCoal. Coal is now the world's fastest growing source of fossil fuel, a position it is expected to hold for the foreseeable future. Yet the coal market is far less well understoodthantheoilorgasmarkets.Academics,policymakers,andmarketp- ticipantsarefacedwiththeprospectofourcollectiveknowledgeaboutthismarket notkeepingpacewithitsincreasingrelevance.Coal,only30yearsagoalocalized fuelsource,isnowavolatileglobalcommoditywithbanksandhedgefundspiling intotheoncetraditionalbusiness.Notonlyisthecoalmarketnowmorerelevant thanever,it'salsomuchmorecomplex.

目次

Executive Summary.- Sources of Coal - Review of Coal as a Resource.- Use of Coal - Power Generation and More.- The Global Steam Coal Market and Supply Curve.- Industrial Structure: Game Theory and Cournot.- Conclusions, Implications, and the Future of Coal.

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