VIM -The skyrocketing price of natural gas, which is likely to remain high next year, is creating a ripple effect in the fossil fuel market and is causing shocks in the global energy market. That shock directly affects many economic sectors, from manufacturing at factories to power supply companies.
Future trends and policy choices
Coal, the fastest substitute commodity, is in very high demand for imports, but some supplies have also fallen into discontinuity, which has pushed coal prices skyrocketing since 2001. Convergence of a series of factors has not whose precedent is rekindling memories of the energy crisis of the 1970s, exacerbating the uncertain outlook for inflation and the global economy.
Thermal coal is heating up.
That is the opinion of three experts Andrea Pescatori, Martin Stuermer and Nico Valckx from the International Monetary Fund (IMF) in an analysis published on the Giftedanalysts news network in recent days.
Supply disruptions coupled with price pressures have created an unprecedented challenge for the global economy, which is already facing an uneven recovery from the pandemic. Domestically, the price of gasoline could not be stopped before the world oil price escalated (October 26, RON95 gasoline price jumped above 24,330 VND / liter) creating pressure on transportation costs, pushing commodity prices to follow. .
In the context of economic recovery efforts, inflation will make more vulnerable groups: workers, small businesses, wage earners and other services. Businesses will also have to add a series of production, transportation, and product costs. The epidemic has made the economy very difficult from food, face, people's life, health to spirit, now the price of petrol is "shocking to the heart" like an extra wobble.
Saving energy from shock
Experts on Reuters said that the reason for the sharp increase in oil prices was due to increased demand in the context of the economy recovering from the Covid-19 pandemic. In addition, the lack of electricity has caused many power plants to switch from expensive gas and coal to fuel oil and diesel.
Therefore, it is difficult to expect the coal - gas market to return to normal in a short time when the reality shows that uncertainties are still high and a small shock in demand may push prices up. energy. This means that governments need to take measures to prevent power outages in case power companies reduce output when they realize that the more they produce, the more they lose.
Power outages and shortages may weaken the chemical, iron and steel manufacturing and manufacturing industries, increasing pressure to disrupt the supply chain. Operators also need to implement good policies to effectively exploit natural energy sources, avoiding energy shocks for the most vulnerable populations.
Clean and green electricity in the corner of the sky.
For our country, if in the past time, EVN forced NLS plants to deflate due to "overload of transmission lines", now is an opportunity to "unchain" to push the full capacity of solar PV to avoid price increases. Electricity occurs when under pressure from oil price warnings, coal prices are stirring the world - a source of fear for the economy.
It will be fair and reasonable and timely to reduce coal power and increase clean electricity in the storm of the world energy crisis. Vietnam has a huge advantage in renewable energy and in 2020, the Politburo's Resolution 55 is like the mantra "Open the door" to bring clean - friendly energy to the throne.
When we are all witnessing post-pandemic inflation, renewable energy shows more clearly how meaningful and optimal value is for life. The goal of developing clean energy (NLS) is absolutely right. Clean electricity investors need to be reminded when only a short time ago they were pushed aside by Power Plan VIII in favor of coal power.
Hydrosphere - atmosphere where the Western mountain town Solar Power Plant.
Today, when the Covid epidemic is still sweeping the world, our country's economy is being traumatized, tens of thousands of businesses are clinically paralyzed, people are piling up difficulties, "opening the sky" to receive electricity. Clean to every home is not a very smart solution!
Solar power tourist area.
Fossil fuel inflation and the choice of renewable energy policy will relieve a series of problems weighing on the resurgent economy, and at the same time save Vietnam's energy from being caught up in the whirlpool of the crisis. global energy./.
By Tien Sang
