Adani aims to hook Australia, India, and Bangladesh on coal for decades

first_img FacebookTwitterLinkedInEmailPrint分享New York Times:The story of Adani and its Australian project illustrates why the world keeps burning coal despite its profound danger — and despite falling prices for options like natural gas, wind and solar.Coal is in steep decline in wealthier countries, including the United States and across Western Europe, mostly because of competition from those alternative energy sources. But in Asia, demand for coal, the main source of energy, is growing. That’s because it is plentiful, the appetite is huge and the alternatives are fewer.Government support is also key to coal’s survival. Subsidies for coal-fired power plants have nearly tripled in recent years in the Group of 20 countries, according to a study by the Overseas Development Institute and two other groups. In rich countries, that’s helped to keep coal on life support. In developing countries, it means coal continues to thrive.Moreover, Mr. Adani said, “nation building” was part of his business philosophy. At the heart of that, he said, was the question of “how to make India energy secure.”Regardless of whether India has a choice about coal, Mr. Adani’s empire of mines, cargo ships, ports and power plants depends heavily on it. And he has invested enormous effort to make sure coal will not go away anytime soon.“Throw enough subsidies and anything can be viable,” said Tim Buckley, an analyst at the Institute for Energy Economics and Financial Analysis. “If they did not have special treatment back in India they wouldn’t be able to use expensive Australian sourced coal viably.”More: How One Billionaire Could Keep Three Countries Hooked on Coal for Decades Adani aims to hook Australia, India, and Bangladesh on coal for decadeslast_img read more