King Coal almost edged out oil as the world’s leading energy resource in 2011

The Commentator
" Far from moving away from burning ‘dirty’ coal, global consumption is rising. According to the BP Statistical Review of World Energy released in mid-June, global energy consumption grew by 2.5 percent in 201l in line with long-term trends. However, global coal production also increased last year by almost half a billion tonnes. That’s exceptional. It represents a 6 percent increase in a single year and tops an annual average growth rate of 4.6 percent a year over the last decade. In short, King Coal almost edged out oil as the world’s leading energy resource in 2011 hitting 30 percent of global energy consumption. And it is set to surpass (and probably already has) oil as the world’s most important commodity in 2012. In stark contrast to the U.S., Europe’s use of natural gas fell last year by 2.1 percent as gas-fired plants, which needed only half the number of carbon permits, became increasingly uncompetitive. Prices fell sharply by 17 percent to just 8 euros a tonne. Indeed, so expensive has gas become in Europe that the major players like EON and RWE are considering shutting down their gas-fired plants entirely by 2015. Coal – the literal bête noire for all green politicos – is the only viable alternative."