【金牌纪要库】原油供给受阻+国际气价上行，煤制油、煤制烯烃等品种具备极强的比较优势，煤化工或成为拉动煤炭消费的核心引擎

Group 1 - The article highlights that the supply constraints in crude oil, combined with rising international gas prices, provide significant comparative advantages for coal-to-oil, coal-to-olefins, and coal-to-ethylene glycol products, leading to a substantial expansion in profit margins for coal chemical industries [1] - It notes that the global coal supply side has undergone deep overseas expansion and clearance, resulting in stronger upward elasticity for coal in the face of geopolitical turmoil, with leading companies benefiting from cost advantages through self-owned coal mines or long-term coal contracts [1] - The modern coal chemical industry is shifting from scale expansion to high-end and low-carbon transformation, with large-scale projects such as tens of millions of tons of coal-to-oil and hundreds of billions of cubic meters of coal-to-gas being implemented, positioning coal chemicals as a core engine driving coal consumption [1]