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Politics : View from the Center and Left

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To: Wharf Rat who wrote (150324)	11/16/2010 10:08:26 AM
From: Wharf Rat	Read Replies (1) of 543676

China's Coal Crisis BY DAVID WINNING State-run media reported that Beijing is considering capping domestic coal output in the 2011-2015 period, partly because officials worry miners are running down reserves too quickly to meet the needs of a rapidly expanding economy. "China accounts for around 14% of global coal reserves but its share of global coal consumption is already over triple that at 47%, which is unsustainable," Hong Kong-based brokerage CLSA Asia-Pacific Markets said in a report last month. ...Even if no official limits are introduced, China can't keep growing coal output much beyond another decade, analysts say. The mining sector is constrained by chronic infrastructure bottlenecks, especially road and rail, and those coal deposits that are easiest to mine have already been tapped. Experts are starting to predict when China's coal reserves will run out—a nightmare scenario in a country where 70% of its energy is derived from coal. According to BP PLC, China can only continue at current rates of production for 38 years before its coal reserves are exhausted. That compares with 245 years in the U.S., and 105 years in India. online.wsj.com == Gazprom of Russia to Drill for Oil in Cuban Waters By ANDREW E. KRAMER Published: November 15, 2010 MOSCOW — The Russian energy giant Gazprom has joined a growing list of companies that plan to drill for oil in the waters off Cuba, close to the United States but out of reach of its safety regulators. nytimes.com

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