According to Worldwatch Institute research, fossil fuels support the majority of global energy needs, and demand for these sources continues to rise. The report showed that coal, natural gas and oil accounted for 87 percent of energy consumed worldwide in 2012, according to E&E Publishing, LLC. Furthermore, the report also predicted that there will be a shift in the industry in coming years where coal surpasses oil as the most consumed primary energy resource across the globe.
However, research also found that while coal production in the U.S. dropped, it increased in nearly all other markets worldwide. The U.S. decreased its coal consumption by nearly 12 percent recently, whereas other sectors rose 2.5 percent overall. Rising demands have fueled worldwide increases; the Chinese coal market saw a 6.1 percent rise, India experienced a 9.9 percent boost and Japan's consumption rose by 5.4 percent.
Mining contributor Cecilia Jamasmie stated that although U.S. coal supply levels fell, demand for the fuel considerably grew. Overall, U.S. mining companies produced 4 million tons of coal in 2013, and product inventories dropped by 31 million tons, hitting 154 million tons in September last year.
"The U.S. coal mining industry saw a modest, but meaning demand increase last year...that caused total consumption in the first 11 months to hit 35 million tons," Jamasmie wrote. "[T]otal coal exports in the first nine months went the opposite way, declining by nearly 8 million tons compared to the same period in 2012."
In order to boost production levels and meet rising demands, mining organizations must ensure that they have the most reliable tools for the job. These groups should utilize equipment condition monitoring solutions to provide the means for preventive maintenance and ensure that machinery is optimally functioning. With this technology in place, critical machines are more reliable, which can boost overall production and decrease maintenance costs.
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