August 20, 2008
China's Haze

Coal production in China has more than doubled over the last seven years, reversing the decline seen from 1996 to 2000. In 2007, China consumed 2.9 billion short tons of coal, representing more than one third of the world total. As you might have guessed, this makes it both the world’s largest consumer and producer of coal.

Even though internal demand has been skyrocketing, China has been able to dig into its massive coal reserves and remain a coal exporter – until last year. In 2007, China’s growth finally outpaced its ability to produce, making it a net importer of coal.

Since then, international prices for thermal coal (the kind used to fire power plants) have tripled, going from $50 per metric ton to well over $150. Coincidence? We think not.

 

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In February 2008, Casey Energy Opportunities recommended an under-the-radar coal growth stock and a coal ETF with exposure to the massive Chinese coal market. Since then, the growth stock has doubled, and the ETF has hit highs 65% above the recommended buy price.

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