THE steep rise continues, never sliding back to an incline of less than 45 degrees. It has been that way for the past year and a half. It’s not the fast track to the top of a mountain. It is the price curve of Indonesian coal. In January 2007 the price of coal on the world market was still US$47.60 a ton. In early August this year it tripled to a record high of US$152.09.

Although the price of coal has eased somewhat in recent weeks, Indonesia