China in particular is struggling to fight a looming overcapacity problem. “China alone is housing the largest power market investment bubble the world has ever seen,” observed Lauri Myllyvirta, senior global campaigner on Coal and Air Pollution at Greenpeace.
This should be downright illegal in the face of what we currently know about climate change, the economy, etc. It’s not a matter of efficiency – it’s a matter of the money not being put towards clean energy so that fat cats can stay fat. Period.
Source: As Coal Use Drops, Investors Blow Nearly $1 Trillion Globally on Unnecessary New Plants | Common Dreams | Breaking News & Views for the Progressive Community