Despite claims from renewable energy advocates, the world is sticking with coal as the preferred fuel of choice for power generation.
While green advocates would have us believe the fossil fuel is dead, coal sales are booming with BP analysis show shows that over the past 20 years renewable energy has had no impact on coal’s global market share.
Federal Resources Minister Matt Canavan says that’s great news for Queensland and shows that people have been lied to about what is happening in the regions.
The BP review showed coal use in power stations has increased in Australia’s biggest markets of China, India, Japan, South Korea and South-East Asia, but had fallen in the US and Europe.
BP senior economist Spencer Dale says the growth of renewables hadn’t offset the declining share of nuclear and the share of non-fossil fuels in 2017 was only a little lower than it was 20 years ago and that it was a huge wake-up call for the world.
“The share of coal in the power sector in 1998 was 38 %, the same as in 2017, with the slight edging down in recent years reversing the drift up in the early 2000s associated with China’s expansion.”