| Description |
1 online resource (xxv, 242 pages) : color illustrations |
| Contents |
Note continued: 3.4.8. USA, Vietnam, Poland, and Canada -- 3.5. Competitive Conditions of Coal Supply -- 3.6. Coal Mining/Production -- 3.6.1. Optimal Use of Resources -- 3.6.2. Coal Mining Methods: Surface and Underground Mining -- 3.6.3. Coal Mining Investments and Variable Operational Costs -- 3.6.4. Coal Amelioration and Coal Washing -- 3.6.5. Environmental and Safety Issues Associated with Coal Production -- 4. Use of Coal -- Power Generation and More -- 4.1. Introduction -- 4.2. Steam Coal and Its Role in Power Generation -- 4.2.1. Steam Coal Demand by Region -- 4.2.2. World's Most Important Coal-Importing Countries -- 4.3. Introduction to Power Markets -- 4.3.1. Matching Power Supply and Demand -- 4.3.2. Power Pricing and Coal -- 4.3.3. Competitive Conditions of Power Generation -- 4.4. Coal-Fired Power Plant Technologies -- 4.4.1. Power Plants and Coal Use -- 4.4.2. Future of Power Plant Technology: Increased Efficiency, Reduced CO2, and CCS -- 4.5. Environmental Issues Associated with Coal Use -- 4.5.1. How Much CO2 Stems from Coal? -- 4.5.2. Nitrogen and Sulfur -- 4.6. Comparative Analysis of Coal Substitutes for Power Generation -- 4.6.1. Natural Gas -- 4.6.2. Nuclear Energy -- 4.6.3. Oil Production and Power Generation -- 4.6.4. Alternatives: Hydro, Wind, Biomass, Solar, and Other Sources -- 4.6.5. Comparison -- 4.7. Future of Coal Use: CtL and Coal Bed Methane -- 4.7.1. Coal to Liquid -- 4.7.2. Coal Bed Methane -- 5. Global Steam Coal Market and Supply Curve -- 5.1. Geopolitical and Policy Environment -- 5.1.1. Introduction -- 5.1.2. Greenhouse Gas, Kyoto, and CO2 Trading -- 5.1.3. Political Environment -- 5.2. Introduction to the Global Seaborne Coal Trade -- 5.2.1. Atlantic vs. Pacific Coal Markets -- 5.2.2. Market Participants and Market Power -- 5.2.3. Seaborne Freight |
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Note continued: 5.3. Contract Terms, Coal Derivatives, and Price Formation Theory -- 5.3.1. Coal Contract Terms -- 5.3.2. Paper Coal Derivatives and the Impact on Price and Trade -- 5.3.3. Determinants of Coal Pricing -- 5.3.4. Economic Theory and Coal Pricing -- 5.4. Variable Cost Analysis -- Real Global FOB Costs -- 5.4.1. Methodology -- 5.4.2. Results -- 5.4.3. Implications -- 5.5. WorldCoal: GAMS-Programmed Coal Market Model Including Sea Freight -- 5.5.1. Implications -- 6. Industrial Structure: Game Theory and Cournot -- 6.1. Introduction -- 6.2. Reference Model 1: Perfect Competition -- 6.3. Reference Model 2: Monopoly -- 6.4. Cournot Competition -- 6.5. Bertrand and Stackelberg -- 6.5.1. Bertrand, Simultaneous Price Competition -- 6.5.2. Stackelberg, Dynamic Quantity Competition -- 6.6. Cournot with Constant vs. Increasing Marginal Cost -- 7. Conclusions, Implications, and the Future of Coal -- 7.1. Introduction -- 7.2. Implications of the Cournot Extension for the Coal Market -- 7.3. Current and Future Market Dynamics of the Coal Trade -- 7.3.1. Market Participants -- 7.3.2. Physical Trading Volumes -- 7.3.3. Trading Risks -- 7.3.4. Financial Markets/Derivatives -- 7.3.5. Regional Developments -- 7.3.6. Production and Trade Consolidation -- 7.4. Future Steam Coal Price Trends -- 7.5. Future Source of Energy: What Role Will Coal Play in the Global Power Mix? -- 7.5.1. Environment -- 7.6. Suggestions for Future Research |
| Summary |
The world today depends on oil, coal and gas (in that order of importance) for over 80% of its primary energy. From the time humans tamed fire, wood or bio-mass became the primary energy source. Coal took over from biomass during the Industrial Revolution and accounted for over 60% of world primary energy by the early 1900s. The current age is often referred to as the Oil Age, which seems appropriate now that about 35% of the world's primary energy still comes from oil. However, coal is experiencing a renaissance. Today about one quarter of the world's primary energy and more than 40% of the world's electricity comes from coal. In addition, about two thirds of the world's steel is produced using coal. The author predicts that coal will become even more important in the decades to come, mainly driven by demand from China and India. This book focuses on the role of coal for today's energy and, most importantly, electricity markets. It starts with a review of coal as a resource, profiling the major steam coal exporting nations and the structure of the supply market. The low investment rate in coal compared to other fossil fuels is discussed, and environmental and safety issues with coal production are reviewed. The book examines how coal is used in the modern world. It compares coal to other energy resources and speculates on a greater role for coal in the medium-term future. It examines the structure of the steam coal market, contract terms, derivative markets, FOB costs, and introduces the WorldCoal market model. The final chapter summarizes conclusions and predictions. The author predicts more and larger merger attempts in the coal supply arena and further efforts to manage this development through public policy, greater investment by market participants in logistics and upstream assets, and the development of exchange-based coal trading through standardized coal volumes. The author also outlines why he believes coal prices will rise, eventually catching up with gas |
| Bibliography |
Includes bibliographical references and index |
| Notes |
English |
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Print version record |
| In |
Springer eBooks |
| Subject |
Coal trade.
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Coal -- Environmental aspects.
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BUSINESS & ECONOMICS -- Industries -- General.
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Sciences de la terre.
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Environnement.
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Coal -- Environmental aspects
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Coal trade
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Kohlenmarkt
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Außenhandel
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| Form |
Electronic book
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| ISBN |
9789048192403 |
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9048192404 |
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