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China's coal reserves 'will make it new Middle East', says energy chief http://apocadocs.com/s.pl?1299591835
Vast reserves of coal in the far west of China mean it is set to become the "new Middle East", a leading figure in the global coal industry has claimed. Fred Palmer, the chairman of the London-based World Coal Association and a key executive at Peabody Energy, the world's largest privately owned coal company, also said that China is leading the US in efforts to develop technology to "clean" coal of its carbon emissions by burying them underground....
"I think Xinjiang province in the west of China, where they say there's a trillion tonnes of resources, will be the new Middle East. Anyone who has the notion that we're going to move away from fossil fuels just isn't paying attention."
China is "ahead of the US" when it comes to developing low-carbon coal technology, said Palmer, and "we should be doing what they are doing". This weekend, the Chinese government announced a new five-year plan, which included a pledge to reduce emissions growth relative to GDP by 17 per cent. Palmer added that the world should "applaud" China for consuming so much coal "because it makes the world better for everyone for no other reason that it takes huge price pressures off of oil". China processes a significant amount of its coal to produce liquid fuels which can be used as an oil replacement.
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[Read more stories about:
coal issues, carbon emissions, global warming]
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A warmer climate will do us all good. Who wouldn't like the lazy hazy days of summer, all year 'round?
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