Due to better coal economics and relatively unsupportive renewable energy policies, we expect coal to still dominate the fuel mix at more than 60% from now until 2027.
In the near term, coal remains to be the hot topic in India.
The Dorado-1 well was expected to find 545 bcf of gas but resulted in something much more valuable, a large commercial oil find.
With utilisation rates rising so high, the US domestic steel prices are likely to increase by at least the 25% - as per the new tariff.
Battery costs to fall 50% - beginning to compete with gas.
Dr Andrew Latham, vice president of exploration at Wood Mackenzie said: "The industry has a good chance of achieving double digit returns in 2017. Smarter portfolio choices and lower costs are already paying off."
Tesla Model 3 promises to move electric cars from niche to mainstream, spurring larger electric car adoption in transport, according to Wood Mackenzie’s latest research.
Wood Mackenzie expects to see further cuts throughout the year and investment levels continue to shrink as more projects are dropped and companies struggle to breakeven.
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Close to 17% of forecast 2015 US coal production is at risk of idling or closure, totalling 162 million short tons (Mst), as these mine's total cash costs plus sustaining capital expenditures exceed current market pricing, according to Wood Mackenzie's latest coal market outlook.
In light of the Indonesian mineral ore ban that came into force on January 12th 2014, Wood Mackenzie says the aluminium industry - particularly in China - faces a challenge to address a growing shortage of the raw material bauxite, an aluminium ore.