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Coal production and consumption in China
Casey Research
Coal production in China has more than doubled over the last seven years, reversing the decline seen from 1996 to 2000. In 2007, China consumed 2.9 billion short tons of coal, representing more than one third of the world total. As you might have guessed, this makes it both the world’s largest consumer and producer of coal.
Even though internal demand has been skyrocketing, China has been able to dig into its massive coal reserves and remain a coal exporter – until last year. In 2007, China’s growth finally outpaced its ability to produce, making it a net importer of coal.
Since then, international prices for thermal coal (the kind used to fire power plants) have tripled, going from $50 per metric ton to well over $150. Coincidence? We think not.
(20 August 2008)
Striking chart at original. -BA
China warns on winter energy supply
Jim Bai, Reuters
China warned on Thursday that its energy supply problems were likely to last into winter as it struggles to ensure stable sources of coal, oil and power, the People’s Daily reported, citing a senior official.
The pressure to secure raw materials will be “considerable”, according to the report, which quoted an unnamed official of the National Development and Reform Commission (NDRC), the top government planning agency.
The NDRC did not offer a reason for the persistent tightness in supplies, but China is only now beginning to emerge from several months of its worst summer power supply crisis in four years, after surging coal prices turned power company margins negative, prompting many to curb supplies.
(22 August 2008)
