Wearing a Friends of Fossil Fuels badge, and echoing the Trump Administration’s well-publicised sentiment that ‘the war on coal is over’, Xcoal Energy and Resources’ Chief Executive Officer, Ernie Thrasher told Brisbane’s 2018 Energy Mines and Money conference that the end of coal “is fake news”.
Instead, he suggested to 400 strong investor audience that the coal industry has potential to expand dramatically in Queensland, and presents real opportunities for investors, communities and governments.
Thrasher referenced BP’s recently released annual Statistical Review of World Energy which showed that coal continues to hold its place in energy generation.
“In 1998, coal represented 38 percent of global power generation. In 2017, it represented 38 percent of global power generation.”
“There is no change despite two decades of coal consumption,” Thrasher noted.
He encouraged delegates to continue to invest in the industry to advance the coking and metallurgical coal industry.
“Coal delivers great investment, builds and supports communities and is a powerful, efficient energy source that enables economic development that lifts people out of poverty.”
“It’s a great time to be in the industry and we still have a lot of room to prosper. We should put more effort into using technology that allows us continue to use coal, not to replace it at great cost to the community,” he stated.
Thrasher is one of many speakers showcasing the value of the Queensland Energy and Mining industry to investors representing some $718 billion funds under management, at the inaugural Energy Mines and Money conference, held in Brisbane.
About Energy Mines and Money
Energy, Mines and Money Australia will attract over 500 attendees, showcasing over 40 strategic mineral, coal, oil and gas opportunities, matching projects with global investment throughout a two-day conference and exhibition at the Brisbane Convention & Exhibition Centre from 20-21 June 2018. Supported by the Queensland Government, the programme will examine the trends and forecasts that will shape investment and development for the mining, oil and gas industries moving forward.
Xcoal Energy & Resources is a privately owned global coal marketing and logistics company headquartered in Latrobe, Pennsylvania (USA). Xcoal specializes in marketing metallurgical, thermal, and anthracite coals from the U.S., Canada, Australia, and Indonesia, among others.
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