Not a good sign for thermal coal prices (and miners):
In a multibillion dollar bid to clean up air pollution, Beijing is shutting down its coal-fired plants and replacing them with natural gas-fuelled power stations by the end of next year.
via Beijing pushes to improve air pollution – FT.com.
Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters.
Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.
Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.
He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.
Not a good sign for Australian agriculture either if the reports about groundwater damage from fracking are to be believed. Anything that increases demand for gas is bound to increase the pace of extraction.