In the six months since the presidency of the United States, Donald Trump has dramatically changed the global conversation on the long-term sustainability of fossil fuels. The recent announcement that the US Using its post in the UN’s Green Climate Fund to promote the construction of coal-fired power stations in the world is the stated intention of the administration to use its influence in a number of global energy and climate organizations. Carbon capture technologies. Despite withdrawing from the Paris climate agreement less than two years after its signing, the Trump administration has managed to remain a global energy perspective by changing the actor as a key resource for the world. Development: coal.
No matter the tumult. Trump could be on something – a surprising fact for an administration unknown by his enlightened policies. Among developing economies, including the Chinese and Indian giants growing, there is an existing long recognition of the need for fossil fuels, especially coal power. While some have argued that natural gas is better suited to developing economies, the fact is that coal is more abundant and has a competitive advantage over natural gas in many markets, especially in South East and sub-Saharan Africa, Where coal reserves abound.
For example, growth in India’s economy means that the appetite for gas, nuclear and coal increases in the country by the year: 30 percent of the increase in global demand for energy by 2040 will come from India . In China, a similar rate of growth will see coal production increase by 19% by 2020. But massive coal growth is not limited to Asia alone, such as Africa A large consumer of coal.
The International Energy Agency (IEA) estimated that African coal consumption of 5 trillion BTU in 2012 7 trillion BTU in 2040 due to increasing demand for electricity. Sub-Saharan Africa is through vast reserves of accessible and easy-to-exploit coal, which means that coal-based electricity will remain an important economically viable source for the foreseeable future.
Unfortunately for developing countries, global rhetoric is always possible, a direct path to the elimination of fossil fuels, despite the obvious economic ramifications for growing economies. Global institutions and international financial institutions have taken a flexible approach to the issue by promoting renewable energies with more flexible approaches to energy consumption that could include an abundant resource such as coal. The decision of the World Bank in 2013 to severely restrict the funding of coal-fired power plants, or the Deutsche Bank policy in 2017 to take advantage of all the coal financing, are two examples of this global trend.
Particularly in Africa, where countries rely on coal to meet their energy needs, these constraints have put pauses in their development. Unsurprisingly, African leaders as finance minister of Nigeria, Kemi Adeosun, lamented that African countries are denied the face of coal paralyzing energy shortage in the interest of CO2 reduction targets. CO2 emissions in Africa is low in absolute terms as per capita, the Tanzanian Energy Minister has specifically stated in 2014 his country intends to intensify the use of coal in the future during a visit by President Obama.