World Energy Crisis Would Be Worse Without China’s Rainy Season

(Bloomberg) — As bad as the world’s energy crisis has been this year, it would been much worse without a wetter-than-usual start to China’s rainy season.

Heavy downpours in southern China have led to reduced air-conditioning demand and surging hydropower generation. Both have lessened the need for fossil fuels, allowing the world’s biggest coal and gas importer to cut purchases and leave more supply for other energy-starved nations.