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COAL MAY EQUAL OIL IN TEN YEARS

12/31/2012

Coal will catch up to oil as the world's leading energy source by 2022, according to the International Energy Agency (IEA). Economic and population growth in developing countries is largely fueling the push, which will significantly increase carbon emissions. The report came as the European Union acknowledged that it had not been able to fund a single project to capture and store CO2, and earlier this year the IEA announced that, without a major move away from coal as an energy source, average global temperatures could rise by as much as 6C above pre-industrial levels by 2100. The report indicates that China will account for half of the world's coal consumption and that India will overtake the United States for second place by 2014. The report also indicates that the United States will be the only region in the world to reduce demand due to an increased prevalance of shale gas. Governments have attempted to use carbon capture and storage methods to curb emissions growth, but the report said that it's unlikely to make any impact in the next five years and that utilizing "indigenous unconventional" resources like gas is key. For the full story, see http://www.bbc.co.uk/news/science-environment-20770245.