“By Reuters 07 Apr 2008 03:16 PM ET Global coal supply will fall short by up to 35 million tons in 2008 and the deficit is set to grow going forward, ensuring that prices remain strong, the CEO of coal miner Arch Coal said on Monday.”
A few weeks ago another commentator (on CNBC) said that the “United States is the Saudi Arabia of coal.” (Montana, Illinois, Wyoming and other states basically sit on hundreds of square miles of easily strip-mined coal. See US Coal Sources.) Hmm, does this suggest to you what it suggests to me? I think that the United States should form a coal cartel (OCEC = Organization of Coal Exporting Countries) just like the world oil cartel, OPEC. Since China has recently gone from a coal exporter to a net coal importer, perhaps we can drive up the price of coal far enough so that we can pay for all our stupid imports and rebalance our balance of payments.
Wouldn’t that be a sweet Christmas present?
A few weeks ago another commentator (on CNBC) said that the “United States is the Saudi Arabia of coal.” (Montana, Illinois, Wyoming and other states basically sit on hundreds of square miles of easily strip-mined coal. See US Coal Sources.) Hmm, does this suggest to you what it suggests to me? I think that the United States should form a coal cartel (OCEC = Organization of Coal Exporting Countries) just like the world oil cartel, OPEC. Since China has recently gone from a coal exporter to a net coal importer, perhaps we can drive up the price of coal far enough so that we can pay for all our stupid imports and rebalance our balance of payments.
Wouldn’t that be a sweet Christmas present?
1 comment:
Jeeps, I think I remember seeing this movie already: How Green was my Valley. But, let the drilling commence! I will be right behind you in the line signing up to be among the throng of patriotic citizens who take up working in coal mines - for the greater good. Cough Cough.
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