With oil prices rising, Asia turns to coal
You may have heard that oil prices are flirting with $100 a barrel; what’s an oil-dependent, energy-hungry globe to do? In Asia, home to a third of the world’s proven coal reserves, the answer seems obvious. Across the continent, billions of dollars are being poured into R&D of coal-to-liquid fuel and coal-bed methane extraction. Some tout the new technologies as clean ‘n’ green — but coal by any other name is still coal. Period.