The breathtaking run-up in oil prices is linked to the crisis of world financial institutions. What the U.S. Government should not do.
China has encouraged rapid export-led economic growth as a way of putting off dealing with its internal political and social problems. Economic growth requires energy, and China's energy comes overwhelmingly from coal. The nation's short-term survival strategy thus centers on producing enormous quantities of coal today, and far more in the future. (Excerpts)
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