Coal Deal W/China?

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wilder11354
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Post by wilder11354 » Wed. Apr. 12, 2017 10:15 pm

So trumps offer to China is we got coal.. so does that make north korea..go away with chinas help? I think any fool can be had once... twice.. well.... shame on us!

 
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BigBarney
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Post by BigBarney » Wed. Apr. 12, 2017 10:47 pm

Why would they care about our coal reserves when they have the worlds

largest supply???????????????

And ours are oceans away......

BigBarney

 
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Richard S.
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Post by Richard S. » Wed. Apr. 12, 2017 11:04 pm

BigBarney wrote:Why would they care about our coal reserves when they have the worlds

largest supply???????????????
The US has the largest supply, by far.... China controls about 13% of the world's reserves, Russia 17% and the US 27%. While they have large reserves they also burn an enormous amount. For some perspective about 4 or 5 times what the US does and it's about equal to what the entire world consumes. At the rate they are going now they could exhaust domestic supplies in about 3 or 4 decades.

That is "proven recoverable reserves", they know it's there and know it can be mined economically using modern mining methods. The total reserve may actually be an astounding amount. The very tip of this pyramid marked active mines could supply the US for the next 20 years. The part marked recoverable reserves would be the 27% of world reserves, the 478 billion tons they know is there but it may not be recoverable e.g. it's under a town. The last sections are based on some measurements and speculation.

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Richard S.
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Post by Richard S. » Wed. Apr. 12, 2017 11:17 pm

As side note, don't let this topic wander into politics to much.


 
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Pauliewog
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Post by Pauliewog » Thu. Apr. 13, 2017 12:25 am

Looks like it may be good news for US Coal production.
http://conservativetribune.com/nk-fleet-surprising-destination/

Paulie

 
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Post by coaledsweat » Thu. Apr. 13, 2017 6:40 am

Just part of "The Deal."

 
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Post by Sunny Boy » Thu. Apr. 13, 2017 6:55 am

We've already been selling some coal to China for quite some time.

http://query.nytimes.com/gst/fullpage.html?res=9C0DEFDD153FF931A15752C1A9669D8B63

https://www.eia.gov/coal/production/quarterly/pdf/t7p01p1.pdf

While it's not as much as we export to some other countries, any increase should help our coal industry. And if it also helps bring down the pork chop dictator in NK, all the better. ;)

Paul

 
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Post by coaledsweat » Thu. Apr. 13, 2017 7:07 am

The US has about 1/3 of the whole world's coal as I understand it. That's a lot.


 
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BigBarney
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Post by BigBarney » Thu. Apr. 13, 2017 9:46 am

I mis spoke, what I should have referred to is the production.China produces ~4x what

we do. Many also can't trust the Chinese estimates which have not been accurately

reported.

I wonder how much of the anthracite fields in eastern PA are flooded and are too

expensive to mine?

BigBarney

 
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Post by deepwoods » Sat. Apr. 15, 2017 1:50 pm

BigBarney wrote:I mis spoke, what I should have referred to is the production.China produces ~4x what

we do. Many also can't trust the Chinese estimates which have not been accurately

reported.

I wonder how much of the anthracite fields in eastern PA are flooded and are too

expensive to mine?

BigBarney
That's a good question and who knows with modern tech could they in some instances be drained and mined?

 
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Post by coaledsweat » Sat. Apr. 15, 2017 2:41 pm

Well, with the Chinese turning North Korean coal back to NK, and their rejection of Australian coal because of quality issues, I would expect a big increase in US sales to China. But we aren't really taking about anthracite here.

 
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Post by freetown fred » Sat. Apr. 15, 2017 3:50 pm

Thank you CS!!!!!!!!!!!!!!!!!!! :)

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