Jun 03 2008
SWAT Team Looks to Cut China’s Addiction to Dirty Coal
There is a coal panic in China, and Beijing has dispatched a SWAT team of energy traders to corner the market on abundant, clean-burning uranium.
China’s problem is two-fold: a lack of coal and severe coal pollution.
In case you haven’t seen the CNN.com story of May 20th, Chinese power plants are running out of coal, with less than a three-day supply in some areas, according to official government statements. About 32 power plants shut down due to a scarcity of fuel — aggravated by the May 12th earthquake.
The current decline in uranium prices gives these China super-traders a critical inflection point to pick up the slack and clean up the environment.
