Power Shortages in China Short of Coal
For people living in north and central China, winter just got a bit colder. A shortage of coal has left power companies unable to meet heating energy demands. It's forcing some areas to ration electricity.
Coal shortages are nothing new to the region, with bad weather often disrupting deliveries.
But this year, matters are worse. Coal companies are holding back some of their supply, because they are not willing to sell to power companies at the below-market rates mandated by the Chinese regime.
Coal provides about three quarters of China's electricity, and it's used to power the large, centralized heating systems of the north.
Coastal cities have had it a bit better as they are able to supplement with imported coal.
Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.
Wednesday, December 22, 2010
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Jim Rogers "the 19th century was the century of the UK , the 20th century was the century of the US , the 21 st century is going to be the century of China "
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