We have written twice over the last week concerning the energy crunch, first in China and then in India. Thermal coal prices have risen to record levels, threatening to impact GDP growth as a result of electricity rationing. The Financial Times observes that China has suffered a triple whammy of emissions restrictions on power generation, a shortage of coal, and price caps on electricity that mean demand is unaffected as input costs have risen.
India, which relies heavily on coal for its thermal power plant, is facing tight supplies and record…Europe Desperately Needs To Diversify Its Energy Supply
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