China has been relying heavily on coal (over 70% of domestic energy consumption) and petroleum for energy to maintain its supercharged economic growth - it has plenty of the former and now has to import nearly 50% of the latter. Underutilized methane gas holds great promise.
China relies heavily on coal-at over 70% of the nation's energy consumption-and petroleum to power its supercharged economic growth. It has plenty of the former (by far the world's largest producer*) and now has to import nearly 50% of the latter. Coalbed methane constitutes a significant, comparatively untapped resource that is only now seeing serious attention.
When the peak summer consumption season comes and industrial production in the region resumes, thermal power plants will be under heavy pressure to generate electricity, which could lead to higher coal prices.