China occasionally talks a good “green” game, but it keeps on building coal-fired power plants. From Chris MacIntosh at internationalman.com:
There are some things that bring joy to my soul. My pleasures are simple ones. Peanut butter on toast (the food of gods), witnessing Macron getting a slap, and this…
The awesome thing here is that what is taking place is that our competition on bidding for coal assets has disappeared in a cloud of woke smoke.
This will quickly become geopolitical, and the question is this: can BlackRock, Citi, Prudential, HSBC, and their other woke mates decide the fate of nations?
They are already affecting the fate of nations. Witness Canada and all of Western Europe.
I found a live shot of their respective energy policies:
But will they do the same to China? Will they do the same to Russia?
The answer to that will only be fully revealed in the due course of time, but we don’t really need any crystal balls here as we just watch actions, not words.
“China put 38.4 gigawatts (GW) of new coal-fired power capacity into operation in 2020, according to new international research, more than three times the amount built elsewhere around the world and potentially undermining its short-term climate goals.”
Nearly all of the 60 new coal plants planned across Eurasia, South America and Africa — 70 gigawatts of coal power in all — are financed almost exclusively by Chinese banks”
We see all of this on the ground, and while it is taking place, formerly reputable media outlets such as the FT, Reuters, and Bloomberg tell us that: “China’s belt and road initiative creates a problem for China with respect to their climate goals.”
Wanna bet Blackrock and pals are mega long nat gas???