China’s Plan to Cap Coal Use by 2013 Contravenes Plan for Economic Growth

The Sydney Morning Herald reported that the Australian coal industry believe that China’s promise to cap coal use by 2015 will inhibit its commitment to economic growth.

As quoted in the market report:

But Mr Price said the National Development and Reform Commission’s targets basically called for “flatlining” energy use, an unreasonable forecast because China depended on coal for 80 per cent of its power. “It’s highly likely their coal consumption rate will continue to lift by at least a couple of per cent,” he said, describing the 4 billion-tonne target as a “nice academic exercise.

To view the full  Sydney Morning Herald report, click here.