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Regional effects of the 2021–2022 global energy crisis
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==== China ==== [[China]] is facing its worst energy crisis in decades, due in part to a record heatwave, with droughts drying up water reservoirs and impacting hydropower stations.<ref>{{cite magazine |title=Will China's Energy Crisis Make It More Reluctant to Fight Climate Change? |url=https://time.com/6102765/china-energy-coal-climate/ |magazine=Time |date=30 September 2021}}</ref><ref>{{Cite web |author=Analysis by Nectar Gan |title=Analysis: China's worst heat wave on record is crippling power supplies. How it reacts will impact us all |url=https://www.cnn.com/2022/08/26/china/china-sichuan-power-crunch-climate-change-mic-intl-hnk/index.html |access-date=2022-08-26 |website=CNN|date=26 August 2022 }}</ref> ''The Guardian'' reported that "Companies in the industrial heartlands have been told to limit consumption, residents have been subjected to rolling blackouts, and annual light shows have been cancelled."<ref>{{cite news |title=Global energy crisis: how key countries are responding |url=https://www.theguardian.com/business/2021/oct/12/global-energy-crisis-how-key-countries-are-responding |work=The Guardian |date=12 October 2021}}</ref> Prices for industrial metals such as [[copper]], [[zinc]] and [[aluminum]] have soared to record levels as energy shortages in China drive up costs for electricity and natural gas.<ref>{{cite news |title=METALS-Copper heads for best week since 2016, zinc rockets |url=https://www.reuters.com/article/global-metals/metals-energy-crisis-pushes-copper-towards-best-week-since-2016-idINL1N2RB0TB |work=Reuters |date=15 October 2021}}</ref><ref>{{cite news |title=Base Metals Surge as Energy Crisis Knocks Out More Supply |url=https://www.bloomberg.com/news/articles/2021-10-15/metals-waver-near-record-as-supply-cuts-fuel-inflation-concerns |work=Bloomberg |date=15 October 2021}}</ref> The price of aluminum has reached a 13-year high.<ref>{{cite news |title=Aluminum prices hit 13-year high amid power shortage in China |url=https://asia.nikkei.com/Business/Markets/Commodities/Aluminum-prices-hit-13-year-high-amid-power-shortage-in-China |work=Nikkei Asia |date=22 September 2021}}</ref><ref>{{cite news |title=Global Energy Crisis Piles Pressure on Aluminum Supply |url=https://www.bloomberg.com/news/articles/2021-10-11/pressure-is-mounting-for-the-metal-dubbed-solid-electricity |work=Bloomberg |date=11 October 2021}}</ref> The energy crisis has intensified pressures on China ahead of the [[2022 Winter Olympics]].<ref>{{cite news |title=Analysis: China's green Winter Olympics 2022 to boost natural gas demand |url=https://www.spglobal.com/platts/en/market-insights/latest-news/energy-transition/091521-analysis-chinas-green-winter-olympics-2022-to-boost-natural-gas-demand |work=[[S&P Global]] |date=15 September 2021}}</ref><ref>{{cite news |title=How China's energy crisis has sent commodity markets reeling |url=https://asia.nikkei.com/Spotlight/Market-Spotlight/How-China-s-energy-crisis-has-sent-commodity-markets-reeling |work=Nikkei Asia |date=18 October 2021}}</ref> Al-Jazeera reported that "China's energy crisis is partially of its own making as [[General Secretary of the Chinese Communist Party|CCP general secretary]] [[Xi Jinping]] tries to ensure blue skies at the Winter Olympics in Beijing next February and show the international community he's serious about [[Low-carbon economy|de-carbonizing]] the economy."<ref>{{cite news |title=The next shock in the pipeline for China's economy: energy crunch |url=https://www.aljazeera.com/economy/2021/9/27/the-next-shock-in-the-pipeline-for-chinas-economy-energy-crunch |work=[[Al Jazeera]] |date=27 September 2021}}</ref> The energy crunch in Europe and Asia has allowed the [[Kremlin]] to forge its energy connections with China as Gazprom announced another gas pipeline with [[China]], [[Power of Siberia 2]], after the finalization of the existing [[Power of Siberia]] in 2019. The second project between Moscow and Beijing, planned to deliver gas from the [[Yamal Peninsula]], is projected to be signed off in late 2022.<ref>{{Cite news|date=2021-11-18|title=Russia's energy deals with China may backfire on the Kremlin|work=Financial Times|url=https://www.ft.com/content/2b699edc-aa18-4582-aaca-58e5e31b395d|access-date=2022-10-01}}</ref> According to ship-tracking data, China spent almost US$19 billion on Russian oil, gas and coal in the first half of 2022, nearly twice the amount than a year earlier. In July 2022, Laura Myllyvirta of [[Centre for Research on Energy and Clean Air]] told [[Al Jazeera]] "China is already buying essentially everything that Russia can export via pipelines and Pacific ports."<ref name="auto">{{Cite web|title=Russia pockets $24bn from selling energy to China, India|url=https://www.aljazeera.com/economy/2022/7/6/russia-pockets-24b-from-selling-energy-to-china-india|access-date=2022-10-01|website=www.aljazeera.com|language=en}}</ref>
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