They have opted for coal for a single compelling reason: cost. They can produce a megawatt-hour of electricity using Australian coal, Der Spiegel calculates, for $17.49 (U.S.). Using natural gas, the cost rises to $41.34. Using oil, the cost rises further to $79.50. At the same time, they can sell their oil on the global market for something approaching (or occasionally exceeding) $140 a barrel. _GlobeandMailSo even in the oil-saturated Persian Gulf, the economics of energy production favours coal over oil and gas--significantly. Of course, the fuel for a megawatt-hour of nuclear fission energy will cost you around $8 or so. So really, if you have your nuclear plant already built, nuclear is the way to go.
In the US, the Congress and environmental regulations/lobbies have made it almost impossible to generate power from any source whatsoever. Whatever compromises the Pelosi/Boxer Congress eventually reaches, you can be sure it will cost consumers and taxpayers at least double or triple what it should have cost. The joys of nanny state government--cradle to grave mismanagement.
H/T istockanalyst
Previously published in Al Fin
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