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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Chas. who wrote (65787)	9/1/2010 9:23:55 AM
From: elmatador	Respond to of 217662

Beijing has just ordered more than 2,000 steel mills, cement plants and other energy-guzzling industries to shut down by September 30th. And Premier Wen means business this time. The government has been trying for five years to enforce a plan to use 20 percent less energy per unit of economic output. But balky regional governments have frustrated Beijing by blocking every effort to close aging factories. Now, 2,000 factories will be barred from obtaining bank loans, business licenses, and even land. Only China could take such drastic steps to cut energy demand. Beijing has also offered subsidies to consumers who buy small, fuel-efficient cars. Not surprisingly, the China Petroleum Association says crude oil demand growth will slow in the third quarter. China's total energy consumption jumped by 11.2 percent during the first half of 2010. But oil demand in China rose much more quickly. Oil consumption was up by 15 percent during the second quarter. That's after jumping by a breathtaking 22 percent during the first quarter of the year. seekingalpha.com