Governments have been tried to lower carbon emissions, but China and India overuse coal. As a result, coal consumption will surpass petroleum in 2020 and coal will become the key fuel, said Wood Mackenzie.
In the World Energy Congress, Woodmac said that global coal consumptio wold increase 25% to a 4.5 billion tons petroleum equivalent, more than petroleum consumption.
China and India need coal which is cheaper than petroleum tp support economy development. However, coal consumption of countries in America, Europe and other parts in Asia remians stable.
"Chinese coal demand can almost make coal the global dominant fuel. Being different from other energy, coal sources is abundant and affordable." said William Durbin, the chairman of Woodmac.
Durbin siaid that China has no substitute goods for coal. Domestic natural gas output is limited and the price is high than coal's.
In the decade from 2011 to 2020, China will account for about two-thirds of global coal consumption growth. China has been the largest coal consuption country.
"Renewable energy sources cann't supply basic load power supply, so coal plays the main role of energy supply.
excess supply and slowing-increasing demand reduce global coal price. Coal futures in Europe market reduced by 20% this year. Austrilia's coal price fell from $130 to $80 per ton. Chinese coal demand increased more slolwly than expected.
Written by Nicolas Yang
