Special report: India and China are shifting away from coal imports and coal-fired power while a mega-mine is planned for Queensland. Where does this leave coal in Australia?
- Coal in decline: an industry on life support
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The Paris-based International Energy Agency was born in a crisis. In the wake of the 1973 oil shock, as Arab petroleum producers withheld supply from countries that supported Israel in the Yom Kippur war, the then US secretary of state, Henry Kissinger, called on the OECD to set up a new body to ensure its members would always have the reliable and affordable energy they needed.
Over time, as the agency has expanded its focus to map broader energy trends, it has sometimes faced accusations of conservatism – that it has underestimated the uptake of renewable energy, and has been overly bullish about the future of fossil fuels. But last month it released a report that pointed to a rupture more far reaching than the 70s oil embargo.Continue reading...