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IEA says U.S. gas prices of US$5 could spur return to coal [View all]
“Our analysis shows if U.S. gas prices come to around $5 mmBtu – it is about $4.30 per mmBtu now – we may well see coal come back,” Fatih Birol, chief economist of the International Energy Agency, told reporters at an industry conference.
Only regulatory intervention to bar a switch back to coal could prevent greater coal use if gas prices rise to $5 per mmBtu, Birol said.
“If it is left only to economics, around $5 we may see a (coal) comeback, which would definitely be a development which would catch many people by surprise,” Birol said.
U.S. natural gas futures were trading at about $4.20 per mmBtu on Monday.
http://business.financialpost.com/2013/05/27/iea-says-u-s-gas-prices-of-us5-could-spur-return-to-coal/?__lsa=ca39-308c
Only regulatory intervention to bar a switch back to coal could prevent greater coal use if gas prices rise to $5 per mmBtu, Birol said.
“If it is left only to economics, around $5 we may see a (coal) comeback, which would definitely be a development which would catch many people by surprise,” Birol said.
U.S. natural gas futures were trading at about $4.20 per mmBtu on Monday.
http://business.financialpost.com/2013/05/27/iea-says-u-s-gas-prices-of-us5-could-spur-return-to-coal/?__lsa=ca39-308c
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