Asian economies feel the chill without coal comfort

Singapore

THE world just got its first big scare as it transits to clean energy. Gas prices have skyrocketed just as major economies are cranking back up from the Covid doldrum.

Fuel shortages have hit Europe, where a cold winter depleted gas reserves and a long spell of still days have cut wind power supply to the grid. In India, coal demand has vastly outstripped supply. Crude prices have jumped, with some forecasting US$90 a barrel by the end of the year.