China Facing Worst Energy Crisis in Years?
A topic not getting (almost) attention is the Energy situation in China. Could China’s coming Energy Crisis, spill over to Us, and push gas prices further up?
China is currently facing its worst energy crisis in years. It’s so bad that their central planners must be having sleepless nights in Beijing worrying if the lights are about to go out and the factories will stop pumping out goods. Huge swaths of central China, including the financial center, Shanghai, are likely to face power cuts this summer as energy demand peaks. This is how the state-controlled China Daily newspaper summed up the situation: “Power shortages that gripped many parts of the country in recent months could herald the worst energy crunch in years amid growing concerns that economic growth may suffer.”