China is so desperate for coal amid a power crunch threatening its economic growth that it has released Australian coal that has been sitting in bonded storage not cleared by customs because of the spat between the two countries. China is scrambling for energy supply ahead of the winter, with a global shortage of natural gas and coal that have led to record-high prices of the fuels in Asia. China last week reportedly ordered its state energy companies to secure supply “at all costs” despite the rallying prices of liquefied natural gas (LNG) and coal. The world’s second-largest economy is looking to prevent further power outages, rationing, and blackouts that could slow its economic growth and exacerbate global supply chain problems. Last week, China restricted power use in at least 20 regions and provinces that contribute more than half to the Chinese economy. In recent days, China has released […]