Friday, October 23, 2009
Coal Miners in China
Coal, oil and natural gas have proven themselves to be recession-proof. The worldwide economic downturn has not caused a reduction in fossil fuel production, according to the environmental group Worldwatch Institute. In fact, overall sales went up nearly 3% in 2008.
The reason for the increase stems from the growing consumption of fossil fuels in developing countries, which has now surpassed that of industrialized nations. Developing countries, with their burgeoning populations, are determined to raise their standard of living, thus increasing demand for coal, oil and natural gas to expand industries and further economic growth.
Coal is doing especially well. In 2000, coal provided only 28% of the world’s fossil fuel energy production, compared to 45% for oil. By 2008, however, coal had risen to 33% and oil was down to 39%. Most of the world’s coal is used to produce electricity.
-Noel Brinkerhoff
Fossil Fuel Production Up Despite Recession (by James Russell, Worldwatch Institute)
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