China is Closing 1,254 Coal Mines, to end "blind expansion"
How about some positive news for a change!
China is kicking the coal habit, bit by bit. Peabody Coal is counting on the opposite trend.
For a country that gets 66% of its electricity from coal, this is not an easy feat. This week, they took action.
China's National Energy Administration just announced they are closing down 1,254 coal mines THIS YEAR, shutting down 77.79 million tonnes of "outdated production capacity"
The stated goal is to curb the coal industry's "blind expansion" and to "encourage the use of renewable energy". Those sound like goals the entire world should put front and center!
For the rest of the story, read Greenpeace China's The End of China's Coal Boom report or the Energy Desk on how the International Energy Agency completely missed what was and is probably and hopefully "peak coal" consumption for China in 2014