The consequences of the import ban and blackouts in china
China is the world’s largest coal consumer and its greatest source of coal imports was Australia. But now Chinese cities reportedly go dark as the country faces a shortage of coal.
Analytics said the prices of the commodity in the country have shot up due to the unofficial ban on Australian coal. Local energy consumers in China are highly dependent on coal for power. The ever-increasing demand and shortage in supply is the cause of the surge in coal prices.
China’s carbon emission policy
Northeast Chinese provinces experienced unannounced power cuts which initially hit the factories spread to the households. Of course, the key behind China’s shocking blackouts is Xi Jinping’s recent pledge that his country will reach peak carbon emissions within nine years.
Greenhouse gas emissions by China are the largest of any country in the world both in production and consumption terms and stem mainly from coal burning in China, including coal-fired power stations, coal mining, and blast furnaces producing iron and steel.
Last month, China signed a deal with Indonesia to buy $1.5 billion worth of thermal coal. Though, the shortage continues. Next year, there will be great pressure on China’s three main coal-producing regions to ensure uninterrupted supply.
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