Deep sea mining puts $560 billion in land extraction at risk — report
Even in optimal scenarios, the activity would generate only $6.25 million in tax revenue for countries involved, says Planet Tracker.
Coal has historically played and continues to play a central role in the industrialization and development of nations. A convergence of factors, including China’s spectacular rise, has however had a significant destabilizing effect on the global coal market.
For much of the recent history, global coal export demand was driven by European and Japanese post-war reconstruction and the emergence of the Tiger economies of South Korea and Taiwan. China and, until recently, India, have been late but significant players in the global coal market.
Accounting for 75% of China’s and 73% of India’s primary energy mix , recent EIA statistics (2014) reveal that China alone consumes and produces more coal than half of the world’s total coal production of 7 876 Mt – with new estimates 14% higher than previously reported. India, too, has become a major producer of coal, increasing output from 116 Mt in 1980 to a current level of 600Mt – with an ambitious target of 1.5 billion Mt set for 2020.
