/biz/ - Business & Finance

>A coal billionaire is building the world’s biggest clean energy plant and it’s five times the size of Paris
Five times the size of Paris! What a waste of space.
And that coal billionaire is an apostate in the eyes of the Coal God.

https://www.cnn.com/2024/03/19/business/india-adani-green-energy-plant-climate-intl-hnk

>>58351616
Coal is my goddess. I shall never abandon her.

>>58292925
I have mixed feelings on fractional reserve banking. This system does indeed help to capitalize businesses and get new ventures going, so it does a lot of good. To me, the devil is in the details. What's the reserve ratio? How much interest are people being charged on loans?
I don't know what the exact figures should be, but I think fractional reserve banking is needed for society to progress, but usury is what is detrimental in terms of its societal consequences.
The Gold Middle, as Aristotle taught

>>58281236
From the same article,

>Renowned energy analyst and historian Dan Yergin recently observed that the world isn’t just using more coal than ever before but three times what it did in the 1960s. While Yergin recognizes significant changes in the global energy mix, he said, “I’m sick of the energy transition discussion. It sometimes loses touch with economic history and reality. If you look at the history of energy transitions, they all last for over a century. To try and make change happen in 25 years, or even half of that time is highly unlikely.”

>For Yergin – and energy analysts the world over – the coal age has miles to run. The International Energy Agency (IEA) expects coal consumption in India and Southeast Asia to in fact “grow significantly.”

>By 2026, the IEA expects just China and India together to account for 70% of global coal demand. Those two nations and Indonesia opened 59 gigawatts of new coal generating capacity last year. India has 85 GW of new coal generating capacity already under construction with more expected.

>>58176566
What happened with Whitehaven?
Australia mines more coal now than the USA does. The US has been at about 590 million short tons for the past two years and, if this year is any indication (though we're only one season into it), US production is set for another steep fall this year.
SAD :(
I will stick with coal till the bitter end, though, and go anywhere I must in order to spend the rest of my life mining coal.
A part of me thinks the government of Australia won't let its coal industry be shut down by the greens because it's just so lucrative. Another part wonders, though, "Are Western governments so ginned up on ideology that they would behave so irrationally?"
So I have no idea what the future hold for coal in the Western World. But for the time being Australia is rolling coal out like gangbusters and is making great business. My company now has many locations there to assist with Australian mining operations.

I hope Whitehaven has a bright future for many decades to come.

As to the previous discussion about how eastern mines, at least in coal, pay "better" in the sense that even though they pay roughly the same as western mines, the money goes further in places like West Virginia, I've found out that there are some very affordable towns on the Western Slope of Colorado as well as in Utah and Wyoming, town which aren't that far from the mines.
It's mainly the mines within commuting distance of the larger metro areas like Denver and SLC, such as some Freeport-McMoRan mines, that just don't pay enough given their location, especially if the miners there are subject to periodic layoffs.
Western Colorado is amazingly gorgeous, as is the whole Rocky Mountain region from New Mexico to Montana, and it's great that there are still affordable towns out here. I hope it stays this way and the larger towns near some of the mines don't shoot up in price in the coming years.

>>55756217
Childishness
Talk about mining and commodities