While the European economy is facing a severe contraction due to skyrocketing natural gas and energy prices, Big Energy Cracks are now appearing in China. Due to high LNG prices, China has switched to producing and burning more coal. Even with rising coal consumption, China may still suffer from power outages again this summer. This could be bad news for China and the rest of the world…
It is truly amazing the amount of coal that China produces and consumes every year. With the reported growing shortages of coal, the Chinese Government has instituted power cutbacks to 10 provinces. Many large industrial users have been forced to cut back production of all sorts of metals and materials…
China is already dealing with the worst power shortages since 2011, and the summer hasn’t even begun. Not only is this a big problem for China, but it’s also bad news for the rest of the world. Why? The world depends upon a great deal of Chinese imports. So when power shortages negatively…