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| Fri, 19th Feb 2021 11:41:00 |
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China’s Coal Supply Crisis Means High Prices, Blackouts |
TAIPEI - As the cost of coal spikes during China’s severely cold winter, what is an economic and uncomfortable hardship for many citizens could turn into a hot political problem for one man: President Xi Jinping.
China’s coal prices rose just as temperatures dropped in December, when demand was already surging because of China’s economic recovery from the coronavirus pandemic. Fossil fuels, mostly coal, provide nearly 70% of China’s power.
But even those with money to burn couldn’t buy coal, according to local media reports, and in a nation where thermal coal fuels electrical power plants, winter’s darkness has taken on new depths. Thermal coal, also known as “steaming coal” or just “coal,” "differs from coking coal, which has a higher energy content and is chiefly used in metal making rather than electricity production," according to Robeco, an asset management firm.
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