CHINA DOWN TO 12 DAYS OF COAL

I'm so far ahead of the curve on this it's scary. China's quest for energy to feed its growing economy has them all over the globe in search of oil, coal, and other energy sources. And now, recent news out of China indicates that they will become more and more desparate in their search.

CHINA only has enough coal for 12 days of consumption, three days less than a month ago, state media reported Wednesday, sounding the alarm bells over the nation's most important source of energy.

In certain parts of China, such as densely populated Hebei province in the north, reserves are down to less than a week, Xinhua news agency reported, citing the China Electricity Regulatory Commission.

China counts on coal for about 70 per cent of its energy consumption, a proportion that has stayed almost unchanged for the past nearly three decades despite a skyrocketing rise in demand for power.

Why is this important? I'll tell you why it's important. Next week.