[eserorg]

"Coal is too expensive to transport for export". Seriously?

The United States exports over 60 million tons of coal each year.

"Good luck basing our economy on coal."

China is building one new coal fired power plant each week. The OECD projects China's economy to grow 8.3% this year -- while the rest of the world is mired in a recession. China's entire economy is based on coal.

Warren buffet just bet the entire future of Berkshire Hathaway, his life's work, on coal -- BNSF is the prime mover of US coal exports to China.

You really have no clue about hydrocarbons.

[hristov]

China's economy is based on what they do with the coal not on exporting coal. I.e., it is based on the goods they produce from factories that run on coal.

I guess I was wrong about coal exports, the US actually does export some coal, but the US economy or economic recovery cannot be based on coal. It currently fetches about $70 per metric ton, and it is only going to go down.

Warren Buffet made a bet that as oil prices go up things more valuable than coal will start getting moved on those railroads.

Oh and if you want a coal based economy you can see some pictures of those chinese cities where you cannot see 100 feet in front of your nose. Even China is trying to get off coal as quickly as it can.