• 4 minutes Energy Armageddon
  • 6 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 12 minutes "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 23 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 hours Is Europe heading for winter of discontent with extensive gas shortages?
  • 3 days Wind droughts
  • 17 hours Kazakhstan Is Defying Russia and Has the Support of China. China is Using Russia's Weakness to Expand Its Own Influence.
  • 7 days "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 37 mins ""Green" Energy Is a Scam. It Isn't MEANT to Work." - By James Corbett of The Corbett Report
  • 5 days Oil Prices Fall After Fed Raises Rates
  • 6 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 13 days "Russian oil executive and Putin critic Ravil Maganov dead after mysterious six-story fall" - The New York Post
  • 4 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 9 days Beware the Left's 'Degrowth' Movement (i.e. why Covid-19 is Good)
  • 12 days The Federal Reserve and Money...Aspects which are not widely known

China Can’t Quit Coal

Despite enacting recent ambitious clean energy targets, coal will likely remain a central pillar of the Chinese energy economy for years to come, according to a new report from research and consulting company Wood Mackenzie.

China is in the midst of a massive build out of all types of energy in an effort to diversify away from coal, acting with an urgency brought on after smog in and around major cities reached crisis levels. The country currently depends on coal for nearly three-quarters of its electricity generation, but the central government has ambitious plans to build large nuclear, natural gas, and renewable energy capacity to clean up the air.

But the new report finds that the nuclear goals, in particular, could fall short. China is aiming to reach 200 gigawatts of nuclear capacity by 2030, up from 14.6 gigawatts currently, but technology constraints, a lack of infrastructure, and public opposition will limit the expansion of nuclear power. The report estimates that China may only reach 175 gigawatts of nuclear by 2030.

Related Article: China to Ban High Sulfur Coal Imports

That would still be enough to position China as the largest generator of nuclear energy in the world, with its share of global nuclear capacity jumping from 4.5 percent to 30 percent by 2030.

Nevertheless, with the Chinese economy still growing rapidly, coal will be hard to displace. Even with all the new clean energy generation planned, China will continue to build new coal-fired capacity. Coal’s share of the electricity sector only drops from 75 percent today down to 64 percent by 2030, under the projected scenario.

But the growth rate of China’s coal consumption could be nearing a peak, which would offer hope that cleaner energy could begin to cut into its share. Moreover, it remains to be seen if China’s newly declared “war on pollution” and subsequent upgrade of environmental regulation will significantly alter the trajectory of the coal sector.

By Joao Peixe of Oilprice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News