Europe Picks Coal Energy over Natural Gas

Bloomberg reports that Europe continues to favour coal use, bucking the trend towards cleaner energy in the U.S. and Asia.

As quoted in the market report:

Global gas consumption may rise 19 percent by 2017 from 2010 levels as demand surges in Asia and the U.S. while Europe’s usage drops 1.6 percent, according to the International Energy Agency. Increasing coal-fired generation in Europe has cut gas demand by 3 billion cubic feet a day, according to Sanford C. Bernstein & Co., about 7 percent of consumption. The IEA last year predicted a golden age for the fuel with new exports from America to Australia.

To view the whole Bloomberg report, click here.