Sunday, 14 Aug 2011
Macquarie Group Limited said that the U.S. may increase coal exports, further boosting supply of the commodity in Europe.
Mr Hayden Atkins, an analyst in London at Macquarie's commodities unit, said that "A big push to encourage natural gas burning in the U.S. may drive up coal exports to Europe, China and India."
According to a report on the website of the U.S. Energy Information Administration, the closing of Germany’s nuclear plants will increase demand in that nation. U.S. steam coal exports to Europe in the first quarter more than tripled from a year earlier to 4.9 million tonnes from 1.5 million tonnes.
U.S. coal exports are at their highest level since 1992. Exports to the Netherlands jumped to 1.1 million tonnes from 334,628 tonnes. Shipments to Germany went to 899,009 tonnes from 166,314 tonnes. Trade to the UK rose to 852,159 tonnes from 159,280 tonnes.
Merrill analysts including Mr Sabine Schels in London said that switching to natural gas from coal in U.S. power generation will accelerate in 2012 because of new Environ mental Protection Agency rules to cut emissions of sulfur dioxide and nitrogen oxides, Bank of America Merrill Lynch said July 19th 2011. The Cross State Air Pollution Rule requires 27 states in the eastern U.S. to cut sulfur dioxide emissions by 73% and nitrous oxides by 54% by 2014 compared with 2005 levels.
(sourced Bloomberg)
Macquarie Group Limited said that the U.S. may increase coal exports, further boosting supply of the commodity in Europe.
Mr Hayden Atkins, an analyst in London at Macquarie's commodities unit, said that "A big push to encourage natural gas burning in the U.S. may drive up coal exports to Europe, China and India."
According to a report on the website of the U.S. Energy Information Administration, the closing of Germany’s nuclear plants will increase demand in that nation. U.S. steam coal exports to Europe in the first quarter more than tripled from a year earlier to 4.9 million tonnes from 1.5 million tonnes.
U.S. coal exports are at their highest level since 1992. Exports to the Netherlands jumped to 1.1 million tonnes from 334,628 tonnes. Shipments to Germany went to 899,009 tonnes from 166,314 tonnes. Trade to the UK rose to 852,159 tonnes from 159,280 tonnes.
Merrill analysts including Mr Sabine Schels in London said that switching to natural gas from coal in U.S. power generation will accelerate in 2012 because of new Environ mental Protection Agency rules to cut emissions of sulfur dioxide and nitrogen oxides, Bank of America Merrill Lynch said July 19th 2011. The Cross State Air Pollution Rule requires 27 states in the eastern U.S. to cut sulfur dioxide emissions by 73% and nitrous oxides by 54% by 2014 compared with 2005 levels.
(sourced Bloomberg)
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