China’s Coal Industry Has a Big, Dirty Secret
Bloomberg reports that largely unnoticed, an obscure corner of the trade has reached gargantuan proportions.
Exactly a century ago, two German chemists patented a process to transform coal into liquid fuels. Following its discovery in 1925, the Fischer-Tropsch synthesis eventually became infamous: The Nazis used it to fuel their war machine, and apartheid South Africa turned to it to offset the impact of an oil embargo in the 1980s. Its last — and huge —... ...
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