Meanwhile in the US Donald Trump asked oil industry executives to donate $1 billion to aid his campaign before the election and after elected makes statements like this – “Trump called wind and solar energy “a blight” on the country. “They hurt our country very badly,” he said. “And smart countries don’t use it.”
ProtoplanetaryNebula on
This only delays things and if China doesn’t buy now and the prices goes even higher, buy the time they need to buy they might be buying at even higher levels than now.
Really, China needs to think about the longer term and their exposure to these shocks and start phasing out ICE technology more aggressively. I am sure they could ban full ICE cars from 2027 and hybrid with low range from 2029 and combine it with an ICE scrappage scheme.
ph4ge_ on
Besides Trump being a maniacal pedophile that desperately needs distractions and likely took bribes to execute this policy, the main reason the US is going after oil because it is still a strong card to play today, while 15 years from now countries like China will be a lot less vulnerable.
Its also why Putin invaded Ukraine when he did. Europe is rapidly moving away from fossil fuel and arguably the reason they stood up against Putin was because renewables had already significantly reduced Europe’s dependency on Russia.
Changeup2020 on
And it should not be overlooked that China also built a huge amount of coal plants. People were confused why China wanted to do that with all the renewable energy push, but it seems China just did a huge hedge against exactly the scenario today.
4 Comments
Meanwhile in the US Donald Trump asked oil industry executives to donate $1 billion to aid his campaign before the election and after elected makes statements like this – “Trump called wind and solar energy “a blight” on the country. “They hurt our country very badly,” he said. “And smart countries don’t use it.”
This only delays things and if China doesn’t buy now and the prices goes even higher, buy the time they need to buy they might be buying at even higher levels than now.
Really, China needs to think about the longer term and their exposure to these shocks and start phasing out ICE technology more aggressively. I am sure they could ban full ICE cars from 2027 and hybrid with low range from 2029 and combine it with an ICE scrappage scheme.
Besides Trump being a maniacal pedophile that desperately needs distractions and likely took bribes to execute this policy, the main reason the US is going after oil because it is still a strong card to play today, while 15 years from now countries like China will be a lot less vulnerable.
Its also why Putin invaded Ukraine when he did. Europe is rapidly moving away from fossil fuel and arguably the reason they stood up against Putin was because renewables had already significantly reduced Europe’s dependency on Russia.
And it should not be overlooked that China also built a huge amount of coal plants. People were confused why China wanted to do that with all the renewable energy push, but it seems China just did a huge hedge against exactly the scenario today.