China Rejects Oil Future
China is the world’s largest oil importer. It means to close that down as much as possible, as soon as possible. Its accelerated movement into green energy is accelerating even faster.
According to Semafor,” In a bid to wean itself off imports, it boosted oil output by 13% from 2018 to 2024, while electric vehicles sold in the country went from 6% of the world’s total in 2020 to almost half last year.” Crude oil is one point of leverage the US has with China in trade negotiations, although China has several factors on its side.
According to The New York Times, “While China is dominating clean energy industries, from patented technologies to essential raw materials, the Trump administration is using the formidable clout of the world’s biggest economy to keep American oil and gas flowing.”
World Economic Forum
The EIA and the World Economic Forum have both noted that China’s advancement in solar energy has been remarkably rapid. This not only means a level of energy independence, but it also means the world’s leading producer of greenhouse gases may not be in the reasonably near future. The US is second, followed by India.
China’s ability to move away from oil as a primary source of energy should be measured against almost all US efforts. Ameria’s interests in moving away from oil are gone.
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