In minerals and energy the assumnption is rarely that "demand is fixed" ..
Population and per capita consumption have both increased for more than a century so the long term data is hard on the side of "demand relentlessly increases" (for major mineral demands and for energy supplies).
The logic here behind this ruling is that within the global thermal coal market it appears that demand is levelling and peaking, coal is on the nose, and thermal coal demand will start to fall within the decade.
That's based up such things as (say) the Standard & Poor (of SP100 fame) 2022 global coal forecast report.
Given the majority of major players in US stock market dicked about and inflated ratings of mortgage-backed securities the answer is yes, them and a host of others.
What they do as finnancial players in the stock market, though, is largely orthogonal to the market reports from independent experts that they commission or purchase.
The entire S&P global mineral intelligence wing was aquired from a third party and was built up to reflect the ground truth of lease acquisition, exploration, capital development, etc in the mineral resources domain.
Comments
In minerals and energy the assumnption is rarely that "demand is fixed" ..
Population and per capita consumption have both increased for more than a century so the long term data is hard on the side of "demand relentlessly increases" (for major mineral demands and for energy supplies).
The logic here behind this ruling is that within the global thermal coal market it appears that demand is levelling and peaking, coal is on the nose, and thermal coal demand will start to fall within the decade.
That's based up such things as (say) the Standard & Poor (of SP100 fame) 2022 global coal forecast report.
Thats the same S&P that are also famous for their role in the 2007/8 sub-prime mortgage and global financial crisis right?
Given the majority of major players in US stock market dicked about and inflated ratings of mortgage-backed securities the answer is yes, them and a host of others.
What they do as finnancial players in the stock market, though, is largely orthogonal to the market reports from independent experts that they commission or purchase.
The entire S&P global mineral intelligence wing was aquired from a third party and was built up to reflect the ground truth of lease acquisition, exploration, capital development, etc in the mineral resources domain.