China Doubles Down On Coal Despite Global Push To Go Green

Despite global expectations to move away from coal, demand in China is still strong, as rising global temperatures causing heat waves are driving up electricity demand and coal prices.  Thermal coal futures reached record highs in July as a heatwave in China sent electricity use soaring. In industrial areas of the country such as Zhejiang near Shanghai, electricity use exceeded 100 million kilowatts per hour as temperatures rose to 37 degrees Celsius.  In response to the high energy usage across the country, coal prices exceeded 900 yuan…

via OilPrice

Categories: Energy