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Posted Mon Aug 30 2010: from Bloomberg News:
Low prices stoke coal sales, despite pollution concerns
Coal trading is poised to rise to a record high this year as prices at less than half their 2008 peak stoke demand, defying governments' efforts to phase out the most-polluting fossil fuel. The volume of coal derivatives bought and sold around the world may jump as much as 46 percent this year to 2.3 billion metric tons, based on data from exchanges and brokers, according to Guillaume Perret, founder of Perret Associates Ltd. and a former trader at RWE AG, Germany's second-biggest utility. That would exceed the record 2.2 billion tons traded in 2007. "It's looking pretty good for coal," Kris Voorspools, director of 70Watt Capital Management, a Luxembourg hedge fund that specializes in trading spreads in energy and carbon markets, said last week. "It's the fuel for the developing world. China and India are using it to grow."
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'Doc Jim says:
That sucking sound you hear is humanity's last gasp of growth.

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