- China may have to set aside its ambitious plans to cut carbon emissions — at least in the short term — in order to tide over its worsening power crisis, said analysts, says CNBC
- Such balancing act could be “uncomfortable” for China as it comes just weeks after President Xi Jinping said China would not build new coal-fired power projects abroad, said Gavin Thompson, Asia-Pacific vice chair at energy consultancy Wood Mackenzie.
- Boosting coal supply cannot be a permanent solution to address the power shortages, given the need to reduce carbon emissions over the long term, said Morgan Stanley. (Yeah, right!)
The short-term reality is that China and many others have little choice but to increase coal consumption to meet power demand.Gavin ThompsonASIA-PACIFIC VICE CHAIR, WOOD MACKENZIE
CNBC has fallen for the BS from the CCP over China’s emission-cutting plans. It doesn’t have any. The hard truth is they have no power right now and the supply chain is suffering as a result – as is their economy. As coal is nationalized the country has been unable to respond fast enough – prices are the same everywhere and the usual laws of supply and demand do not apply. Instead some towns are seeing as much as 80% reduction in power availability. Cue the coal industry!
China's not abandoning coal:— Bill Heller (@noturbine) October 16, 2021
Coal transportation mainly relies on railways in China. Here is an inside look at how the system works to unload hundreds of carriages carrying tons of coal efficiently. pic.twitter.com/XMycejbcWp