China is Hoarding Coal Ahead of Summer Demand Peak

China, the world’s biggest investor in and generator of wind and solar power has been stocking up on coal in anticipation of peak demand during the summer. Now, the move is about to start paying off as temperatures rise and so does demand for cooling. After several years of coal shortages during peak demand season, this year may be the first year that China avoids one. Bloomberg reported this week that China had accumulated inventories of 162 million tons of coal over the first five months of the year, equal to about 8.5% of consumption during…