Coal: Offering Investors Clean, Green and Sweet Profits
Thomas Smicklas submits:Most of us know coal as a dirty, black, smelly fossil fuel that has made investors some clean, green and sweet profits recently. I believe that investment in coal remains bullish,and here's why:
- While the media focuses on new energy technologies, the truth is that only a small percentage of power produced worldwide is through solar and wind. While there is obviously growth potential, the cost outweighs the hype in our present economic environment.
- Natural gas supplies only 20% of electricity globally.
- Steel production uses over 10% of world coal production. $70 of the world's steel production requires coal as the primary energy source. It takes approximately 1300 lbs. of coal (coke) to produce one ton of steel.
- Over 40% of the world's electricity comes from coal-fired plants.
- China,the worlds largest consumer of coal, with even more coal-fired power plants coming online, is betting on fossil fuel even as it