In the wake of dwindling coal supplies, mineral industry players have approached the government to ensure an adequate supply of coal to steel & aluminum companies. Steel companies are facing the heat of the coal shortage, with JSW Group stating that it might consider hiking steel prices. Many power plants across India are now left with only four days' worth of inventory, with supplies unable to match the rebounding power demand. Globally, the UK, European countries, and China are facing an exacerbating energy shortage owing to a variety of domestic and global factors. Why is the world facing an energy crunch? Will it be transient or long-lasting? We explain the global energy crisis on the India Development Debate with Alok Perti, Former Secretary, Ministry of Coal, Paul Hickin, Associate Editorial Director, Europe & Africa Oil News & Analysis, Platts, and Ole Hansen, Head - Commodity Strategy, Saxo Bank.
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