The IEA says China has hit peak oil - Oil markets face enormous glut
Transportation is 40% of oil demand and this is going away.
America's per capita economy is bigger than China's, but since China has four times America's population, its economy is much the larger.
When China sneezes, the whole world catches a cold. When China puts the skids on fossil fuels in its cities, Big Oil is in a very bad place.
Nota for Buzz: Sam gives us the numbers for China's anti-fossil-fuel policies now gong into effect in cities. Big oil glut incoming!
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I'm not doing Sam Evans every day on purpose. Honestly. But he's putting up some very pertinent stuff.
Natural gas, water and electricity are provided to all buildings, but gasoline is what will be taking a hit since the Chinese drivers are very strongly shifting to EVs, and EV trucks and buses are taking over as well.
I wonder if Big Oil has a Plan B. Anti-electric obfuscation is only going to take them so far.
Is Warren Buffett still deep into coal?
‘’Drill Baby, Drill’’ probably not a good program.
Don't worry, we will make up all the income with tariffs...
Mexico will pay for it.
No, the American public will.
Oh!