Coal's Unlikely Ally: How High Oil Prices Are Fueling China's Economic Rise China's coal to chemicals industry has long been criticized for contributing to pollution and carbon emissions.
However, recent developments suggest that high oil prices may be giving this sector an unexpected boost. At the center of the story is Ningxia Baofeng Energy Group Co. , China's largest coal to chemicals producer.
The company has reported a record $1. 4 billion in profits for the first half of the year, largely due to soaring international oil prices.