• 3 minutes "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 9 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 15 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 10 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
  • 8 days Energy Armageddon
  • 11 hours "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 4 days "Forget Oil, The Real Crisis Is Diesel Inventories: The US Has Just 25 Days Left" by Zero Hedge - 5 Stars *****
  • 11 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 4 days "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 4 days "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 1 day Is Europe heading for winter of discontent with extensive gas shortages?
  • 4 days The Federal Reserve and Money...Aspects which are not widely known
  • 5 days Goldman Betting on Cryptocurrencies
  • 8 days Сryptocurrency predictions
  • 13 days Putin and Xi Bet on the Global South

Breaking News:

Oil Prices Jump On Major Crude Draw

Tap Oil Fields, Not Our Emergency Reserves, To Lower Energy Prices

Tap Oil Fields, Not Our Emergency Reserves, To Lower Energy Prices

America’s Strategic Petroleum Reserve has…

Chinese Premier Announces Clean Energy Push

Chinese Premier Li Keqiang has restated the government’s plans to aggressively build clean energy capacity throughout the country in an effort to reduce air pollution.

Li’s announcement, which he made on the central government’s website, comes as major Chinese cities have been suffering from catastrophic levels of smog. Li’s statement laid out plans to build new solar, wind, nuclear and hydropower plants.

China is already one of the world’s largest markets for clean energy. It installed a record 12 gigawatts of solar in 2013, with an aim of boosting growth to 14 gigawatts this year. China also led the world in installed wind capacity last year, with a record 16 gigawatts coming online.

Until now, China has been a smaller player in the nuclear industry, but it has ambitious plans to triple its capacity by 2020. It currently has 20 operating nuclear power plants, with 28 more under construction. Connecting enormous volumes of new clean energy capacity will require the construction of high-voltage transmission lines. According to Bloomberg, several Chinese nuclear companies saw their stock prices rise after Li’s comments.

China also leads the world in greenhouse gas emissions and, aside from its contribution to climate change, the central government is concerned about the effects of pollution spewing from coal-fired power plants.

A 2013 study blamed air pollution for reducing life expectancy by five years for the average person in some parts of the country. Pollution is also a drag on growth, with some studies projecting that it costs the equivalent of between 3.5% and 9% of GDP.

Last month, Li declared “war on pollution” and outlined the steps the government will take to rein in smog. It won’t be easy; China still burns through as much coal as the rest of the world combined.

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