Peak Coal: Will Steam Coal Energy Production Decrease? - Essay Sample

Introduction

The point in which coal production will reduce steadily and its consumption reaches the maximum is referred to as peak coal. It is perceived that coal production, which is one of the energy sources used across the globe, has begun decreasing (Holz et al., 2018). Besides, over the past decades to modern days, it has remained the primary source of energy. Steam coal energy production in the future has remained a matter of concern, and shareholders in the industry have been requested to address this concern. The issue surrounding coal has remained a matter of concern globally because it contributes to more than thirty percent of the world's energy. Steam coal, on the other hand, provides more than forty percent of the power produced across the globe. In developed countries with large economies; for example, coal is a significant fuel source, which is why it raises concerns.

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Below are the countries ranking on coal-fired power generation gathered in 2014 how countries depended on coal energy

In China, for instance, coal production has peaked and is currently interfering with the country's economic growth as primary importers. Besides, research proves that by mid-2020, coal production in China will be at a maximum. Despite India's demand for coal, china's current coal energy production has reduced. Also, in China, for example, there are on-going debates concerning coal production (Holz et al., 2018). The discussion is to minimize coal production because it gets perceived that it pollutes the environment causing a lot of heating. Although coal production is said to be reaching its maximum, it is as well significant to industries producing steel. Many steel producing companies use coal during the process of creating steel, which is the reason it has raised concerns. Therefore, when there is a reduced coal production, companies such as steel industries will experience reduced production.

Coal peak raises concerns globally because it is used for different purposes worldwide. Coal products or remains are as well used in hospitals together with other chemicals to produce medicine. Despite coal production being harmful to the environment and humans, its use is significant in several ways. Domestically it is used for lighting and cooking, which people from the middle-class or low-class find affordable. Also, coal products produced after the combustion of coal-driven machines are often used to make concretes. The remains get combined with cement and other products used to make concretes. Therefore, reduced coal production will affect many sectors globally, and it has raised concerns, especially in developed countries, including China and the USA.

Further, coal maximization raises global concern because various health and environment departments are worried about future health and surrounding (Holz et al., 2018). In countries where coal production gets maximized means that there is a reduced number of trees. Reduction in the number of trees places countries at risk of experiencing increased global warming. During coal production, carbon monoxide gets released to the atmosphere, and it affects or changes the climate. Moreover, when there is climatic change occurs, many living organisms, including humans, will be affected. Also, coal maximization means that planted or naturally growing trees will be utilized in the future. Trees are significant in any given environment and should be kept or left to grow without cutting them down for over coal production. Therefore, coal peak is a primary concern for many people. It is an issue that affects governments, industries, and societies.

Strategies Energy Companies Can Pursue to Promote Sustainability in The Face of Peak Coal

Many people across the globe do not have access to electricity or energy across the world. Therefore there is a need for energy companies to promote energy supply to reach the world's highest population. During the period when there is maximum production of coal, which is raising concerns, energy industries should develop strategies that will promote sustainability (Kaygusuz, 2012). Energy companies should be able to increase wind produced energy in many regions because it will not interfere with the economy. Once wind provided power has gotten established, many people will be able to have access to energy at a low expense. Besides, in many countries, it is electricity that is used to run a business contributing to the country's economy, especially in the urban regions.

Energy companies can utilize captured carbon dioxide as a strategy in sustainability during the face of peak coal. Converting carbon dioxide into energy will help to supply additional heat or electricity to any country. It is an affordable method of produce energy from coal power plants, which will reduce electricity costs. Also, it will assist the state in meeting its economic demands through the production of coal oil as it reduces greenhouse gas emission that is harmful to the environment (Kaygusuz, 2012). Coal oil production can assist any country in satisfying its economic demands, and also it is done through a method that will not affect the climate. However, initially, a large amount of coal oil was remaining without extraction, but with current developed technologies, energy companies tap the oil at a low cost.

Further, energy companies should develop the strategy of converting coal into liquid fuels. It will ensure that coal gets utilized as an alternative oil, which is environment-friendly and affordable. Liquid oil from coal will provide that countries economic stability, especially nations that depend on oil imports. Besides, liquefied coal oil can get used in the transportation sector. Energy companies need to apply the technology in extracting liquefied coal oil. Moreover, liquefied coal oil can get used in vehicles as fuels. Also, it can get used in private jets as fuel. Additionally, liquefied coal oil can get used in homes for cooking, which means coal, even though coal is at its maximum production, it can get reduced to a minimum production level. Therefore it is a significant strategy that energy industries should apply.

Ultimately, coal can get used for different purposes, and energy companies need to develop more strategies for promoting the sustainability of fuel at its peak. Also, energy industries should create a plan for underground coal gratification to avoid waste and expenses. Converting underground coal remains to assist in producing gases that can be used in companies to generate power and heating (Kaygusuz, 2012). Besides, they can also be combusted to produce hydrogen and natural gases. In China and South Africa, for example, companies in the two nations are already using the strategy in different phases. It is a significant strategy, which allows companies to spend limited resources in acquiring other gases such as hydrogen. Moreover, the process of underground coal gratification favors the environment and does not affect the climate. Underground coal gratification is as well cost-friendly, but the products found from its operation can be used to generate income.

References

Holz, F., Kafemann, I. V., Sartor, O., Scherwath, T., & Spencer, T. (2018). What does "peak coal" mean for international coal exporters? DIW Berlin, https://coaltransitions. Files. World press. Com/2018/09/coaltransitions_finalreport_coal-global-trade_20182. Pdf.

Kaygusuz, K. (2012). Energy for sustainable development: A case of developing countries. Renewable and Sustainable Energy Reviews, 16(2), 1116-1126.