Coal on the skids - China, India, USA, Great Britain, and Australia

Coal production and the seaborne coal market are all suffering as renewables ramp up and coal-fired power is reassessed due to pollution, health and greenhouse gas emission concerns.

Coal prices for Newcastle thermal coal is just above US$56 per metric ton. Major coal markets in India and China are drying up. Vietnam has just announced a review of coal power citing the need to implement all international commitments in reducing greenhouse gas emissions.

There is increasing closure of coal power stations driven by health impacts from pollution as well as growing concern to reduce emissions after the historic UN climate conference Paris Agreement.

Coal is in structural decline. And it needs to be.

A study by Ekin and McGlade published January 2015 into fossil fuel resources and the 2 degree limit found that, without any Carbon Capture and Storage, 88 per cent of coal needs to stay in the ground, unburnt.

So here is a list of recent heartening news on the coal front.

• China closes mines, imposes 3 year new mines moratorium
• US puts new coal leases under 3 year review to align with climate policy
• UK pledges coal power station phaseout by 2025
• India expanding local coal but also massive renewables expansion
• Australia: new mines approved as coal export markets shrink
• Australia, Germany, Japan and the US at risk of stranded coal assets, utility death spiral

CO2 Supply chain study recommends carbon price at point of extraction

An in depth study of the CO2 supply chain by scientists argues that enacting carbon pricing mechanisms at the point of extraction could be efficient and avoid the relocation of industries that could result from regulation at the point of combustion.

Most of Australia's contribution to global greenhouse gas emissions comes from the export of fossil fuels such as coal and natural gas. But because we export this, the CO2 emissions are counted against the country where it is combusted, even though much of it may be used in the manufacture of goods imported back into Australia.