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

Mount Equity Group Tokyo, Japan > News > Markets > China digs in on coal, oil gains as energy crisis deepens

A coal-burning power plant can be seen behind a factory in the city of Baotou, in China’s Inner Mongolia Autonomous Region, October 31, 2010. REUTERS/David Gray//File Photo

Oct 8 (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 as world leaders seek to revive efforts to tackle climate change at talks next month in Glasgow.

In China, where coal production had…

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