China short of coal.
From today’s Telegraph The time-honoured cure for high energy prices is high energy prices. Demand wilts.
It is happening in front of our eyes with breath-taking speed in China, the elephant in the global energy boat.
Chinese coal stocks are down to 18 days’ cover, deemed dangerously low by Beijing. It has long been the nightmare of Communist Party planners that the US might weaponise China’s dependency on fuel imports in a crisis.
State-run China Energy News said thermal coal inventories at power plants are critically low. “We are looking for coal everywhere, but no matter how high the price is, it is not easy to find,” said one utility.
Plants cannot pass on the surging cost - hitting $300 a tonne in places, up fourfold in a year - and are losing money on a systemic scale. One producer said his plant is losing a dime on every kilowatt of power. Banks are pulling credit lines.
Started: 28th Sep 2021 at 12:59
Replied: 28th Sep 2021 at 13:03
Last edited by First Mate: 28th Sep 2021 at 13:15:15
Solar ...... It’s the future!
The Sun will never go out!
Replied: 28th Sep 2021 at 13:42
Tonker solar not much use this week with heavy rain and cloud all week
Replied: 28th Sep 2021 at 14:09
But if China is short of the power generation and steel production derived from its coal-burn, because of restrictions it is placing upon the quantity of coal used for this, that does not really amount to being short of coal!
By this criterion, UK has been short of coal for decades!
Replied: 28th Sep 2021 at 18:35
Peter, as long as it's light, it's producing.
Replied: 28th Sep 2021 at 18:40
Aye Tonks.... It is due to extinguish in the next 2 - 3 hundred thousand years at last count.... Then its Pratuz for all living things.
Replied: 28th Sep 2021 at 19:34