Making Sense of China’s Energy Crisis

Sep.28 -- Neil Beveridge, senior energy analyst at Sanford C. Bernstein, discusses China’s energy crisis, what could happen this winter and what Beijing can do to help with prices. He speaks on “Bloomberg Markets: China Open.”

[weewillywonga]

Q: What did Communists use before candles?

A: Electricity.

[gj]

The interviewer obviously missed the most important point while she was trying hard to trash China. China is outbidding other countries in buying LNG. The net effect is that there are countries that cannot afford to buy gas at the market price and their economy are going to be devastated. With rising energy costs, Chinese and manufacturers worldwide would be increasing their prices, leading to inflation in America and Europe.

[JustFunAsAlways]

Thank you!! So nice to re-record!! You are amazing w/the intell~ Stay Strong

[senrab]

or to paraphrase the engraving on the tombstone of Karl Marx:
"Workers of all lands unite, you have nothing to lose but your supply chains!"

[philliplamoureux]

Interviewing someone physically in HONG KONG who is at risk if they tell the fact that the problem is the tiff between China and Australia thereby blocking Australian coal imports is a disservice to the viewer and quality information

3:15 This man's trying so hard not to bring up China's ban on Australia coal. Saying pretty much whatever he can to circumvent the issue while still hinting at the reason

[foreigner]

Thank you sooo much Australia! When China operates their plants, the terrible microdust move to Korean peninsula which causes horrible pollution from Sep - early Feb.
However, since they have nowhere to buy coals, plants are stopped and Koreans are enjoying fresh air! Thank you again Australia!!

[VoodooDg]

someone buy this poor dude a mic, holy shit how unprofessional

[jacare]

From viewing other channels, apparently, there is enough generation capacity to keep the lights on in China. However, due to the CCP rejecting Australian coal, which the power companies and industry have set their equipment up for to burn, there is now a shortage of high quality coal to be had. A further problem is that the price of electricity from the generators is regulated ages in advance, and no means has been built into the costing to allow for the rise and fall of the cost of the fuel. As a result of this omission, the generators are bleeding money; the more electricity they generate, the more money they lose. The trouble is: Is the CCP prepared to swallow their pride, pick up the phone, and have a talk with the Australian Trade Minister, and DFAT staff? Or, are the CCP going to upset Australia to the point that iron ore exports are put on hold? Time will tell!!!

[nopara]

Problem: govt distorting the market. I know, how about more govt intervention?!

[shaundubai]

Discuss solar and wind deployment in China

[dzhellek]

CCP: "Okay Australia, you now have permission to sell coal to us again"
Australia: "Is that so?" "Remember when you told us to find other buyers....funny thing happened."

[Stephen_Jabs]

Audio is not good, improve it Bloomberg

[rolandrosemary]

Am investing in crypto now, this dip is a clear sign for new investors to come in✅✅

[ufdfzfw]

They are currently building a lot of nuclear power plants, but that will definatly not help within a couple of weeks or months. I think they should considder importing more energy related resources from friendly countries like Russia in the meantime.

[DavidGatto]

Sounds like a typical corruption squeeze, to benefit friends of the Party 🥳

[אורגרין-תק]

There Is No Shortage of Energy; There Is Shortage of Normalcy

Despite increased production of energy from renewable sources, and despite the slowdown in car manufacturing, oil prices are skyrocketing. Even though fewer power plants still burn coal, coal prices are skyrocketing, as well. Natural gas prices, too, are going through the roof, and energy demand seems to outpace supply in every country and in every form of energy. Have Earth’s energy sources dwindled so drastically in a matter of months? The answer is a resounding “No!” There is no shortage of energy; there is a serious shortage of normalcy in human relations. I hope the current crisis will put some sense into humanity’s insane consumption.
The energy crunch indicates that we are over consuming. We are producing too much, throwing the excess production to the trash, polluting the ground, the air, and the water, and then we are complaining that we do not have enough. It is about as sane as killing one’s parents and then pleading for the court’s mercy because I’ve recently been orphaned.
It is time we reconsider everything we produce—how we divide production, profits, and goods, which services are necessary and which are redundant, and most importantly, how we treat one another. The goal of this process should be clear to everyone: survival.
There is no ulterior motive, no attempt to dominate or deprive anyone of power or wealth. It is simply that reality is forcing us to take all of humanity and the entire planet into consideration. If we don’t, our entire civilization will collapse like a deck of cards.
Since we still do not understand it and insist on running things the way we have always been running them—through power games—I anticipate a very cold and gloomy winter for the northern hemisphere. The energy crunch will leave many in dark and cold houses; there will be no gas for cars, and renewable energy will not replace traditional sources since there will be little sun during the winter. I hope that at least, it will make us rethink our values. If it doesn’t, next summer will be even worse than the awful summer that just ended.
I know that many people are counting on the promise of renewable energy to solve the energy problems of humanity. I think they are mistaken. There is plenty of energy, far more than we really need. We could cut emissions by at least half tomorrow. But the more we have, the hungrier we become, so our thirst for energy will never be satiated, and we will never stop exploiting the planet or each other until we reeducate ourselves and start being humane toward each other.
We have been behaving like spoiled brats whose parents buy them whatever they want. Now, our parents have run out of money and our childhood is over. It is time for us to mature and conduct ourselves like responsible adults, caring for all of humanity the way a mother cares for her entire family. If we think like a family, we will achieve normalcy.

[michaelquan]

China controlling real estate, tech growth, etc to cool down the speculative market, meet the environmental policy, reduce their energy, materials and other resources needs will lead to an economic slowdown and shortages later - the side effect is somewhat unpredictable.

[pj]

what a load of waffle! the guy is in HK...he dare not tell things as they are! Expert or no expert!

[alexyeung]

I think the speak missed the most important reason, they require Mongol truck drivers to guarantine at the borders, due to uncontrolled covid situation in Mongolia.