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China digs in on coal, crude oil gains as energy crisis deepens

Officials order more than 70 coal mines to ramp up production by nearly 10%

China coal mines
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In China, where coal production had been curtailed to meet climate goals, officials have now ordered more than 70 coal mines in Inner Mongolia to ramp up production by nearly 100 million tonnes or 10 per cent

Chen Aizhu & Sonali Paul | Reuters
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 the most polluting fossil fuels 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, which has led to fuel shortages and blackouts in some countries, has highlighted the difficulty in cutting the global economy’s dependency on fossil fuels

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