Note to Australia: Thermal coal is over : Renew Economy - 0 views
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John Pearce on 31 Jul 13""The world is making policy decisions which mean that coal usage, in my view, will progressively decline. It's a long-term structural change and that should not be dismissed as something that is purely cyclical." (Colin Barnett, West Australian Premier. 29 July 2013) Something deep and long-lasting is changing the thermal coal market, and the effects are already evident in Australia. Reportedly, over the last 12 months, 10,000 jobs have been cut in the coal industry, even though production has increased. Why? Because miners are desperate to staunch their losses as the price they're getting for their coal has plunged by around 40%."