COAL SHORTAGE SEEMS IMMINENT IN EUROPE

Wanganui Chronicle, 10 November 1950, Page 5

COAL SHORTAGE SEEMS IMMINENT IN EUROPE

Bad Time For It To Develop

LONDON, Nov. 9 (Rec. 6 pm).— Industrial correspondents draw attention to accumulating evidence of an approaching coal shortage throughout. Europe, and the fact that Britain opens the winter coal season with : stocks well below what arc regarded i as a safety margin. The latest, statistics issued by the Fuel Ministry show that at. the Up- > ginning of November 15.4 million j tons were held in reserve as dis- 1 tributed stocks. The Government, 1 i earlier this year, fixed the level!] needed to obviate Iho possibility of a j fuel crisis if bad weather set in, at 16j i < million tons, although the target wasp later reduced to 15 : l million tons. * 1 Correspondents point out that, with 1 production unable to match increas- 1 ing internal consumption, Britain willl< have to sacrifice exports to Europe I even more in order to build up her u own stocks. k

I Pointing out that a general coal I shortage is developing at a time when ' most countries are starting on re- ' armament and a stock-piling p'roI gramme, "Financial Times” indus- ! trial correspondent says that as Britain is unable to give them further supplies, European coal importing • countries are turning increasingly to Germany to make up coal stocks. "However they are finding German : production from the Ruhr already heavily oversold, both to home and export consumers, while deliveries on many of her current commitments are greatly in arrears. Germany, like Britain, is scaling down further export contracts, in particular Io Holland and Italy. A number of European buyers appear likely to face a crisis if their stocks have to bp drawn o'n to any great degree, and the difficulties of these two countries, Zn particular, ai> becoming acute. The Dutch Government is now issuing import. permits automatically wherever I coal is offered, and Italy is considering allocating dollars to import coal ■ from the United States.” —Special 1 ‘N.Z.P.A. Correspondent.