China ordered miners in Inner Mongolia to ramp up coal production and oil prices jumped on Friday as a record surge in the cost of gas revived demand for coal to keep factories open and homes heated. The rebound in economic activity from coronavirus restrictions has exposed alarmingly low supplies of natural gas leaving traders, industry executives, and governments scrambling as the northern hemisphere heads into winter. The energy crisis has led to fuel shortages and blackouts in some countries. In China, where coal production had been curtailed to meet climate goals, officials have ordered more than 70 coal mines in Inner Mongolia to ramp up production by nearly 100 million tonnes or 10 percent, as the country battles its worst power shortages in years. Russia’s Gazprom, a key supplier of gas to China, calmed fears that a fire at a major gas processing plant could worsen the situation, saying …
China Orders More Coal Production, Oil Prices Rise as Energy Crisis Deepens
October 9, 2021
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