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Inflation Fears Hit Fever Pitch As Gas Rally Continues

1. IEA Calls For Tripling of Investment into Clean Energy by 2030

- The International Energy Agency (IEA) stated that investment into renewable energy should triple by 2030 to effectively fight climate change

- Whilst almost 70% of new power generation capacity additions have been renewables-based in 2020-2021, hydrocarbons still provide 80% of the global energy supply.

- The IEA forecasts that if energy consumption continues along its current path, temperatures will jump by 2.6°C by 2100, well above the 1.5°C threshold.

- Global emissions have been increasing this year and are on track to add 1 gigatonne year-on-year, bringing the annual CO2 tally to almost 34 gigatonnes.

2. Floods Add Salt to China’s Energy Crunch Wound

- China’s power generation facilities are continuing to vie for available hydrocarbons to burn as flooding in key coal-producing regions Shanxi and Shaanxi aggravated domestic supply issues.

- Whilst China has made significant headway in cutting its coal imports over 2019-2020, the total tally of September 2021 was the fifth-highest in history, up 76% year-on-year at 32.88 million tons.

- At the same time, two available sources of additional coal, namely Mongolia and Russia, remain curtailed amidst lacking railway capacity.

- As a consequence, China’s most traded thermal coal futures in Zhengzhou reached an all-time high of $255 per metric ton, tripling over the…





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