Australian Coal exports will continue at high levels, but the latest World Energy Outlook forecasts a big transition to renewables in the next two decades.

 

ABC News, 19 October 2020:

Demand for Australian thermal coal has peaked, according to the International Energy Agency (IEA), and renewables will deliver 80 per cent of the world's energy needs in the next few years.

During the COVID-19 pandemic, Australia has been saved by its mineral exports, especially iron ore and coal.

Exports are worth $70 billion and they have doubled in the past decade.

But the IEA's report said the global economic slump caused by the pandemic would cause a fall in demand for energy, with oil and coal the hardest hit.

Co-author of the report Tim Gould said while demand for energy was expected to rebound when the pandemic was brought under control, demand for coal was not expected to recover with it.

"Energy demand is set to fall by 5 per cent this year, the largest shock in 70 years," he said…..

In New South Wales mining corporations do not appear to accept the inevitability of King Coal's decline.

This is a snapshot of coal mining leases (red), coal assessment leases (yellow), coal exploration licenses (dark blue) and coal exploration applications (light blue), stretching from the Illawarra region in the south to the New England region in the north of the state as of 20 October 2020.

Image: MinView