UK’s first coal mine in 30 years faces climate court test
Environmental campaigners are challenging the approval of a coking coal mine in northwest England.
The recent earthquake which has devastated Japan could also have serious consequences for Australia’s energy exports to the region, says an article in The University of Queensland News, quoting UQ economist Dr. Liam Wagner:
Dr Wagner, a research fellow and energy economist in the UQ School of Economics, said the prospect of demand falling for energy resources was of major concern to the Australian economy.
“World energy markets have responded very quickly to the prospect of lower demand from Japan, with oil markets in New York falling to $99/barrel before concerns over Middle East stability pushed prices just above $100/bbl by the closing bell,” Dr Wagner said.
“Twenty-three percent of Australia’s energy exports are to Japan and a significant shift in that demand could have serious consequences for Australia’s coal and burgeoning Liquid Natural Gas (LNG) exports.”
