Pakistan Hit With Power Blackouts From Fuel Shortages
Apr 18, 2022 19:25:50 GMT -5
Post by shalom on Apr 18, 2022 19:25:50 GMT -5
Pakistan Hit With Power Blackouts As It Struggles With Fuel Shortages And Technical Problems
BY TYLER DURDEN
MONDAY, APR 18, 2022 - 06:45 PM
A once-in-a-generation inflation shock is rippling worldwide and has become a significant source of social and political instability in the weakest countries. Pakistan is the latest country to experience paralyzing inflation.
Bloomberg reports almost a fifth of electricity generation capacity is offline in the South Asian country because some power plants struggle to purchase liquefied natural gas and coal due to record high prices.
Pakistan's energy costs have doubled to $15 billion in the last nine months ended February from a year earlier. The country has struggled with purchasing energy products to fuel its power plants since the conflict in Ukraine exacerbated commodity shortages, sending prices to record highs.
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BY TYLER DURDEN
MONDAY, APR 18, 2022 - 06:45 PM
A once-in-a-generation inflation shock is rippling worldwide and has become a significant source of social and political instability in the weakest countries. Pakistan is the latest country to experience paralyzing inflation.
Bloomberg reports almost a fifth of electricity generation capacity is offline in the South Asian country because some power plants struggle to purchase liquefied natural gas and coal due to record high prices.
Pakistan's energy costs have doubled to $15 billion in the last nine months ended February from a year earlier. The country has struggled with purchasing energy products to fuel its power plants since the conflict in Ukraine exacerbated commodity shortages, sending prices to record highs.
Continued at link