Exports to exceed 100 million tons in 2011. Read the article in it’s entirety below.
http://coalage.com/index.php/news/news/1343-us-coal-exports-will-reach-new-highs-in-2011.html
The Energy Information Administration (EIA) forecasts coal to remain the dominant fuel for power generation until 2035 despite projected strong increases in natural gas and renewable fuel use over the same period. EIA’s revised Annual Energy Outlook, released last week, shows coal’s share of the market dropping to 43% in 2035 from 45% in 2009, but remaining the largest fuel source as gas use is forecast to rise to 25% from 23%. Renewable fuels will rise to 14% of the electricity generation market from 11% last year due to federal subsidies and eventually benefiting from state incentives. Investments in new coal capacity decrease over the 25-year forecast period, said EIA. Natural gas plays a larger role, said EIA, because new data suggests shale gas supplies are much larger (827 tcf) than was suspected by EIA just last year (353 tcf). Estimates of much larger reserves will hold wellhead prices under $6/MM Btu (2009 dollars) through the mid-point of the forecast period before rising to $6.8/MM Btu in 2035. Gas-fired capacity additions increase 135 GW between 2009 and 2035.
Although EIA more than doubled its estimate of unconventional gas reserves, it cited low prices, environmental concerns about hydraulic fracturing and the brief productive periods for shale gas wells among factors creating considerable uncertainty about the ready availability of shale gas. In addition, “increases in recoverable shale gas resources embody many assumptions that might prove to be incorrect over the long term,” according to EIA.
The outlook also analysed the sensitivity in power generation markets to various assumed requirements for environmental retrofits for coal plants. Its reference case estimates a 3% reduction in the US coal fleet, with the projected retirement of nine gigawatts of coal generating capacity.
Some revisions of note from the early release of the report in December include the retirement of the Oyster Creek nuclear plant by the end of 2019, wind capacity additions of 7 GW rather than 10 GW and updated natural gas reserve reporting.
According to a new MarketResearch.com report coal accounts for over 40% of total global electrical generation – more than 1,700TWh in 2010 – and the installed generating capacity in 2010 was around 1,500GW out of a world total of 4,500GW.
Global coal consumption advanced 7.6% last year and at a faster pace than crude oil, natural gas and nuclear, according to statistics published by oil giant BP.
Read the complete article at the following link:
http://www.mining.com/2011/08/30/coal-now-accounts-for-40-of-global-power-generation/#.TmEikWnweHg.email
Please click on the following link to view our 2011 10-K filing:
Americas Energy Company
Expands Mining Operations at Artemus
Knoxville, TN- February 10, 2010- Americas Energy Company-AECo (OTCBB: AENY) is pleased to announce that Recoal, LLC has agreed to operate as one of our contract surface miners on both our Artemus Project and Hwy 92 Project in Southeast Kentucky.
“The Recoal Team has a proven track record of more than 20 years production in Southeast Kentucky. Recoal will be producing in both the Lily and Jellico Coal Seams. AENY has initiated the process of expanding and amending our permit and adding additional surface mine acreage.” said Chris Headrick, President and CEO of Americas Energy Company. Mr. Headrick added, “The Recoal team anticipates approximately 8-10,000 tons of production per month on the Artemus Project. Mr. Renfro will also complete the face up of our deep mines in both the Jellico and Lily seams. We hope to finalize our permit amendments on the Jellico deep mine and put it in production in late Spring or early Summer of 2011.”
About Americas Energy Company
We are a consolidator of high quality energy properties, operating out of our main offices in Knoxville, TN. We currently operate projects in both Kentucky and Tennessee. AECo develops energy projects throughout the Americas. We are currently evaluating several additional coal projects, as well as an oil and gas rework project in Southeastern Kentucky.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: This press release contains certain “forward-looking statements” as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management’s current expectations. Factors that could cause or contribute to such differences include, but are not limited to, contractual difficulties that may arise, the failure to obtain necessary approvals, the future market price of AENY common stock and the ability to obtain the necessary financing. Such factors are detailed from time to time in AENY’s filings with the United States Securities and Exchange Commission and other regulatory authorities.
January 5, 2011 @ 12:40 pm In Coal Articles,Feature Articles
[1]By Damon van der Linde – Exclusive to Coal Investing News [2]
Global demand for coal drove prices up in 2010, and this trend should continue in coming years, due in part to growing energy needs of the world’s two largest consumers of coal: India and China.
China, the world’s fastest growing major economy, has massive coal reserves, but the country’s energy consumption is growing so rapidly that last year China began importing more coal than it exports. China imported nearly 50 million tons of coal in the first half of 2010, up almost 130 percent from a year ago. China has taken over the U.S. as the world’s heaviest consumer of coal, and this, combined with an increased global demand has triggered a change in the world market for energy.
In spite of both China’s import and domestic coal production, the country still experienced shortages in 2010. Thermal coal stockpiles at major power plants in Hubei have fell as low as 2 million metric tons, below the required 3 million tons, according to New York City- based Commodore Research [3]. Inventories at coal-fired generators in Henan Province also dropped as low as 2.5 million from a minimum required 3.5 million.
Meanwhile, as the population and economy of India has continued to rise in 2010, so has its demand for coal. Coal accounts for 55 percent of the country’s energy consumption. In the last four decades, commercial primary energy consumption in India has grown by about 700 percent. Bloomberg [4] reports that Indian imports of thermal coal nearly doubled last year, surging from 30 million tons in 2008 to a little less than 60 million tons in 2009. India has plans to double electricity generation capacity by 2012, which could see the country importing in excess of 200 million tons of coal.
Coal India Ltd. [5], the near-monopoly supplier of coal in the country, saw the largest initial public offering of a company in India’s history when it launched in November, 2010. Coal India Ltd. also became the second-most valuable mining company in the world after investors bid for 15 times the shares on the first day of trading.
By late 2010, coal prices in Europe reached a two-year high, leading power companies and governments to consider alternative sources of energy like natural gas and biofuels. This upward drive in price can be partly attributed to disruptions in supplies from Australia, due to flooding in coal-rich Queensland and a train accident closed a railway line to a major export terminal. Australia is a major exporter of coal, and accounts for almost two-thirds of the global coking coal trade.
According to the Energy Information Association [6], the United States exported 51 percent more coal in the first six months of 2010 than it did for the entire 2009. Strong global demand for coal, particularly metallurgical coal used to produce steel, has resulted in sharp increases in U.S. coal exports in 2010. Metallurgical coal exports nearly doubled in the first half of this year compared with the first half of 2009. EIA expects total coal exports to decline in 2011 as other major coal-exporting countries increase their supply to the global coal market.
Article printed from Coal Investing News: http://coalinvestingnews.com
URL to article: http://coalinvestingnews.com/2176/coal-market-trends-of-2010/
URLs in this post:
[1] Image: http://coalinvestingnews.com/files/2010/12/coal-trends.jpg
[2] Coal Investing News: http://coalinvestingnews.com
[3] Commodore Research: http://www.businessweek.com/news/2010-12-21/coal-shortages-in-central-china-spur-demand-commodore-says.html
[4] Bloomberg: http://www.bloomberg.com/news/2010-08-16/xstrata-ceo-freyberg-says-demand-for-steelmaking-energy-coal-is-robust-.html
[5] Coal India Ltd.: http://www.coalindia.in/
[6] Energy Information Association: http://http://www.eia.doe.gov/emeu/steo/pub/contents.html
GEORGE WILL; THE WASHINGTON POST
Cowlitz County in Washington state is across the Columbia River from Portland, which promotes mass transit and urban density and is a green reproach to the rest of us.
Recently, Cowlitz did something that might make Portland wonder whether shrinking its carbon footprint matters. Cowlitz approved construction of a coal export terminal from which millions of tons of U.S. coal could be shipped to Asia annually.
Both Oregon and Washington are curtailing the coal-fired generation of electricity, but the future looks to greens as black as coal. The future looks a lot like the past.
Historian William Rosen (“The Most Powerful Idea in the World,” about the invention of the steam engine) says coal was Europe’s answer to the 12th-century “wood crisis” when Christians leveled much forestation in order to destroy sanctuaries for pagan worship, and to open farmland.
Population increase meant more wooden carts, houses and ships, so wood became an expensive way to heat dwellings or cook. By 1230, England had felled so many trees it was importing most of its timber and was turning to coal.
“It was not until the 1600s,” Rosen writes, “that English miners found their way down to the level of the water table and started needing a means to get at the coal below it.” In time, steam engines were invented to pump out water and lift out coal. The engines were fired by coal.
Today, about half of America’s and the world’s electricity is generated by coal, the substance which, since it fueled the Industrial Revolution, has been a crucial source of energy. Over the last eight years, it has been the world’s fastest-growing fuel.
The New York Times recently reported (”Booming China Is Buying Up World’s Coal,” Nov. 22) about China’s ravenous appetite for coal, which is one reason coal’s price has doubled in five years.
Half of the 6 billion tons of coal burned globally each year are burned in China. A spokesman for the Sierra Club, which in recent years has helped to block construction of 139 proposed coal-fired plants in America, says, “This is undermining everything we’ve accomplished.” America, say environmentalists, is exporting global warming.
Can something really be exported if it supposedly affects the entire planet? Never mind. America has partners in this crime against nature, if such it is. One Australian company proposes to build the Cowlitz facility; another has signed a $60 billion contract to supply Chinese power plants with Australian coal.
The Times says ships – all burning hydrocarbons – hauled about 690 million tons of thermal coal this year, up from 385 million in 2001. China, which imported about 150 million tons this year, was a net exporter of coal until 2009, sending abroad its low-grade coal and importing higher-grade, low-sulfur coal from, for example, the Powder River Basin of Wyoming and Montana.
Because much of China’s enormous coal reserves are inland, far from coastal factories, it is sometimes more economical to import American and Australian coal.
Writing in The Atlantic on China’s appetite for coal and possible aptitude for using the old fuel in new, cleaner ways, James Fallows quotes a Chinese official saying that the country’s transportation system is the only serious limit on how fast power companies increase their use of coal. One reason China is building light-rail systems is to get passenger traffic out of the way of coal trains.
Fallows reports that in 15 years, China expects that 350 million people will be living in cities that do not now exist. This will require adding to China’s electrical system a capacity almost as large as America’s current capacity. The United States, China, Russia and India have 40 percent of the world’s population and 60 percent of its coal.
A climate scientist told Fallows that stabilizing the carbon dioxide concentration in the atmosphere would require the world to reduce its emissions to Kenya’s level – for America, a 96 percent reduction. Nations with hundreds of millions of people in poverty would, Fallows says, have to “forgo the energy-intensive path toward wealth that the United States has traveled for so many years.”
In his new political science treatise (“Don’t Vote – It Just Encourages the Bastards”), P.J. O’Rourke says, “There are 1.3 billion people in China, and they all want a Buick.” So “go tell 1.3 billion Chinese they can never have a Buick.”
If the future belongs to electric cars, those in China may run on energy currently stored beneath Wyoming and Montana.
George Will, a Pulitzer Prize-winning columnist for the Washington Post and Newsday, can be contacted at georgewill@washpost.com.
Read more: http://www.thenewstribune.com/2010/12/30/v-lite/1482764/king-coals-staying-power-not-likely.html#ixzz19elUM33v
In a press release on Friday:
“The BryDet Auger being placed in service on the Artemus property is anticipated to help AENY increase its production capability of the Artemus property from 20,000 to more than 40,000 tons of clean coal per month by the end of June 2010,” said Chris Headrick, President and CEO of Americas Energy Company. Mr. Headrick added, “Black Diamond Energy, Inc. our contract miner plans to immediately implement the power of the BryDet auger into production on the Artemus property. The BryDet auger offers enhanced recovery with its state of the art 600-800 foot reach over our traditional auger’s 250 foot reach.”
BryDet Auger’s website can be seen here: http://www.brydet.com/
And some pictures from the job site:
AENY is relocating to 243 N. Peters Rd., Knoxville, TN 37923 our
new offices will allow us to add additional staff to support our growth.
From the Front
From the Side
Expanding the coal pit.
AECo is pleased to present our Super 8k filings, which is now available on our website, here :
Americas Energy Company Super 8k
This is a PDF file, which requires Adobe Reader.
We are also glad to announce many new updates to our website, including an improved Management page, a more thorough Our Projects page and the newly separated Our News page, which will house this blog. Use the link bar to the left to browse through our new layout!
AENY has some exciting news, taken from the press release yesterday on Marketwire:
KNOXVILLE, TN–(Marketwire – 01/21/10) – Effective today, Americas Energy Company (OTC.BB:AENY – News) is pleased to announce the merger between it and Americas Energy Company, Inc. (“AECo”) based out of Knoxville, Tennessee is completed. The two companies have been working very close together over the last several months wrapping up due diligence and disclosure requirements. The surviving entity, AENY, will continue to be quoted on the OTC Bulletin Board under its current symbol: “AENY.”
Read more about it here: Full Press Release on Marketwire!
Americas Energy Company has added Sam Johnson to its executive management team, as was the focus of today’s press release.
“The addition of Sam Johnson to the AECo executive team is the final piece of the puzzle!” said Chris Headrick, President and Co-CEO of Americas Energy Company. Mr. Headrick added, “With the pending acquisition of the Evans Coal Company, Inc. we realized that we needed a strong and experienced hand to properly develop and exploit the resources assembled by the Evans family. Sam brings AECo that depth of experience. With Sam’s guidance we will develop and offer our high quality specialty coals to both the domestic and international markets.”
You can view Mr. Johnson’s resume here : Link
On Thursday October 8, 2009 Mining Operations began on The Upland Church Project, in Bell County, Kentucky. Clear Development, LLC is the mining subcontractor. AECo and Clear Development will produce approximately 15-16,000 tons of coal monthly from this operation.
Clear Development, LLC has begun surface mining operations in the Hance coal seam on The Upland Church Project. Clear will produce approximately 12,000 short tons of surface mine coal and 3,000 short tons of auger coal monthly. AECo and Clear will begin a mine optimization plan for the Harlan and Jellico seams.
Hance channel sample taken September 2009
Lower Harlan channel sample taken September 2009
Upper Jellico channel sample taken September 2009
Lower Jellico channel sample taken September 2009
PR October, 1, 2009. Trend Technology and Americas Energy Company have reached a subcontract mining services agreement with Clear Development, LLC of Lafollette, Tennessee.
Click Here to View Press Release
PR September, 29, 2009. Trend Technology and Americas Energy Company have reached a definitive professional services agreement with Engineering Consulting Services, Inc. of Lexington, Kentucky.
Click Here to View Press Release
Part of our ongoing mine optimization plan, this seam is one of thirteen seams of coal on the Bell County property. We spent the last week meeting with a major High Wall Mining Company and hope to finalize terms of an agreement and begin to mine our 9+ miles of bench on this property. High Wall mining is an incredibly productive tool, on our project a single high wall mining machine should produce about 50,000 tons of clean coal per month, per 1,000 lineal foot of bench. Need more information? To view a video of a high wall miner in operation please visit Addcar Mining Systems.
AECo has established new corporate offices in Knoxville, TN at:
249 North Peters Rd., Suite 300
Knoxville, TN 37923
Office phone number: 865-238-0668
Fax: 866-655-6799
