The energy crisis

The world economy is a system that functions like a clock; where evolution works well, meanwhile revolutionary changes disrupt its smooth operation. The revolutionary push for the climate change agenda in combination with the lock-downs have created consequences that have not been foreseen. When the function of the "clock" is disturbed, then people will have to pay its price, which by the end lowers the standard of living.

Petrol stations in many parts of China have begun rationing diesel amid rising costs and falling supplies.

Some truck drivers are having to wait entire days to refuel, according to posts on social media site Weibo.

China is currently in the midst of a massive power crunch, as coal and natural gas shortages have closed factories and left homes without power.

And this latest issue is only likely to contribute to an ongoing global supply chain crisis, say analysts.

"The current diesel shortages seem to be affecting long distance transportation businesses which could include goods meant for markets outside of China," said Mattie Bekink, China Director at the Economist Intelligence Unit.

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 "All fossil fuels have seen a price renaissance lately as the underinvestment in these fuel sources has created a shortfall of supply at a time when demand is surging," he said.

"Oil, gas, coal prices have all moved in tandem and are through the roof.

"Oil prices have hit their highest levels since 2014 in recent weeks, causing fuel crises in places such as  Europe  and  the UK. Part of this has been driven by coal and natural gas shortages in countries like China and India, which analysts predict will see users switch to oil for power generation and heating.

Such demand could boost overall crude consumption by more than half a million barrels of oil a day.

"This is merely the latest manifestation of shortages impacting China," Jeremy Stevens, Chief China Economist at Standard Bank told the BBC from Beijing.He said companies are already turning to diesel-fuelled generators to keep their factories open during the power crunch.

www.bbc.com/news/business-59059093