{"id":68008,"date":"2024-05-11T16:35:50","date_gmt":"2024-05-11T21:35:50","guid":{"rendered":"https:\/\/olduvai.ca\/?p=68008"},"modified":"2024-05-11T16:35:50","modified_gmt":"2024-05-11T21:35:50","slug":"asia-embraces-coal-as-the-u-s-rejects-it","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=68008","title":{"rendered":"Asia Embraces Coal as the U.S. Rejects It"},"content":{"rendered":"
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Asia Embraces Coal as the U.S. Rejects It<\/a><\/h3>\n<\/div>\n<\/div>\n<\/div>\n
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Vietnam and other Asian countries are on a coal spree! Given the dynamics of energy use in the rapidly developing industrial sector there, it is no surprise that these nations have backpedaled on big promises made at international climate conferences to reduce\u00a0emissions of carbon dioxide\u00a0from fossil fuels.<\/p>\n

Vietnam’s\u00a0projected 2024 growth rate for Gross Domestic Product (GDP) stands\u00a0at 5.8%<\/a>, the sixth highest in Asia.\u00a0Among the\u00a0biggest\u00a0contributors to GDP is\u00a0the industrial sector (38 percent<\/a>), especially manufacturing.\u00a0S&P Global has noted a considerable improvement in\u00a0Vietnam\u2019s\u00a0manufacturing sector in the fourth quarter of 2023 and\u00a0is expecting\u00a0Vietnam\u00a0to perform well this year<\/a>.<\/p>\n

Electricity is a cornerstone of manufacturing operations in Vietnam. In 2023, coal produced more than\u00a040% of all electricity<\/a>\u00a0in the country, while the\u00a0country\u2019s\u00a0abundant hydro reserves contributed around 30%. Natural gas accounted for about 10%.<\/p>\n

However, 2024\u00a0is expected\u00a0to see a shortfall in hydroelectric generation because of\u00a0less rainfall<\/a>. Simultaneously, electricity production with natural gas is\u00a0being complicated\u00a0by forecasts of higher gas prices. Bloomberg reports that state-run PetroVietnam Gas\u00a0\u201crecently decided\u00a0not to purchase<\/a>\u00a0a cargo for June due to high offer prices.\u201d<\/p>\n

So, the heavy lifting to meet power demand must now come from coal. The country\u00a0is urging\u00a0coal miners to maximize production before demand reaches peak in the summer months.\u00a0The\u00a0country\u2019s\u00a0prime minister has asked for an increase in coal exploration\u00a0as well, signaling a sustained interest in the medium to long-time reliance on coal.<\/p>\n

Vietnam\u2019s\u00a0move to increase coal use was inevitable. It cannot continually risk a\u00a0huge\u00a0demand-supply gap whenever dams\u00a0go\u00a0dry\u00a0or\u00a0gas prices skyrocket. The growth rate of power demand from expanding industries is increasing\u00a0at a fair pace, and energy security is critical in ensuring\u00a0manufacturing\u2019s\u00a0positive trend.<\/p>\n

Similar patterns across Asia<\/strong><\/p>\n

…click on the above link to read the rest of the article…<\/p>\n

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Asia Embraces Coal as the U.S. Rejects It Vietnam and other Asian countries are on a coal spree! Given the dynamics of energy use in the rapidly developing industrial sector there, it is no surprise that these nations have backpedaled on big promises made at international climate conferences to reduce\u00a0emissions of carbon dioxide\u00a0from fossil fuels. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[34,147,1535,33795,34526],"class_list":["post-68008","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-asia","tag-coal","tag-hydrocarbons","tag-realclearwire","tag-vijay-jayaraj"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/68008","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=68008"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/68008\/revisions"}],"predecessor-version":[{"id":68009,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/68008\/revisions\/68009"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=68008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=68008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=68008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}