Despite global expectations to move away from coal, demand in China is still strong, as rising global temperatures causing heat waves are driving up electricity demand and coal prices.
Thermal coal futures reached record highs in July as a heatwave in China sent electricity use soaring.
In spite of growing international pressure, coal continues to boom across much of Asia., with China at the helm.
In the Zhejiang region, only 30 percent of its energy comes from renewable sources, meaning that industrial regions across China such as these will still rely heavily on coal for years to come.
Governments may be feeling the pressure to make the switch to cleaner energy, but with growing populations meaning growing energy demand, many countries simply can't keep up without the continued use of oil, gas and coal.
The IEA is now projecting a growth in coal demand by 1.8 percent in 2021., higher than anyone would have previously thought, as coal plants across Europe become more and more scarce.
As Europe continues to move dramatically away from its strong coal mining past, many parts of Asia, Australia, South Africa and South America continue to invest heavily in the traditional energy source as demand shows no plans of easing.
https://oilprice.com/Energy/Coal/China-Doubles-Down-On-Coal-Despite-Global-Push-To-Go-Green.html
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