Can Asia replicate the coal to natural gas switching that has revolutionized power generation in the United States? Up to now the conventional thinking has been not really, given that coal remains cheap and abundant in the region, while natural gas is more scarce, expensive and difficult to transport. But factors are at work that suggest several Asian countries may be able to use more natural gas for power generation, and at prices that are still competitive, albeit higher than sticking with coal. The main reason is that natural gas is in the process of becoming significantly cheaper in Asia, which used to pay more than double what buyers did in Europe and almost five times more than consumers in the United States. U.S. natural gas prices have plummeted in the […]