Global gas glut extends into 2011 as coal surges – BP

Engineering News 13 June 2012.

LONDON – The global natural-gas glut extended into 2011 as high prices diminished demand in Europe and drove use of cheaper coal, accelerated by Germany’s decision to abandon nuclear power, BP said in its latest Statistical Review of World Energy 2012.

World gas production grew by 3.1% while consumption lagged behind at 2.2%, extending a period of oversupply as demand in recession-hit Europe fell by a record 9.9% last year.

Coal consumption grew by 5.4% last year.

“Coal was again the fastest growing fossil fuel with predictable consequences for carbon emissions; it now accounts for 30.3% of global energy consumption, the highest share since 1969,” BP said in its annual review….

(Editorial note: It looks like we are going backwards, maybe George Monbiot is right – if it is too difficult to ramp up renewables and they can’t do nuclear, governments go for coal power.)

http://www.engineeringnews.co.za/article/global-gas-glut-extends-into-2011-as-coal-surges-bp-2012-06-13

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