Comment by anon84873628
1 day ago
To nitpick, much of that is probably due to halting refining for export and drawing down reserves. But of course the point stands that they are rapidly electrifying and expanding renewable generation.
1 day ago
To nitpick, much of that is probably due to halting refining for export and drawing down reserves. But of course the point stands that they are rapidly electrifying and expanding renewable generation.
Oil will only become more and more volatile. The supply chain is both complex and fragile to geopolitical nonsense. China is betting on stability and reliability, environmental concerns is just a bonus.
Also tons and tons of coal. Hopefully just a stopgap.
Yeah, until they run out of coal.
China has large coal reserves, enough for many decades.
"China, the world’s largest coal consumer, has domestic reserves of coal to last the next 50 years, according to annual reserves data from the Ministry of Natural Resources cited by Bloomberg.
At current rates of domestic production, China also has crude oil reserves that could last for at least 18 more years, according to the ministry"
https://oilprice.com/Latest-Energy-News/World-News/China-Say...
https://www.mining.com/web/china-has-enough-coal-reserves-to...
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