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How the war in Ukraine is rattling China's energy transition
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A coal-burning power plant in Baotou, China's Inner Mongolia Autonomous Region, on Oct 31, 2010.
PHOTO: REUTERS
Zhao Xuan, Luo Guoping, Chen Xuewan, and Manyun Zou
BEIJING (CAIXIN GLOBAL) - Since Russia attacked Ukraine in late February, prices of crude oil and natural gas have jumped as sanctions on the major energy exporter have left many countries scrambling for alternative sources of fossil fuel.
If the war lasts more than six months, crude prices may top the record high seen during the global financial crisis in 2008, Sun Renjin, secretary-general of the expert committee at the China Petroleum Circulation Association, predicted at a mid-April conference.
