"The fossil fuel industry invested $75 million to secure Trump's victory, and now they're expecting a return," said the executive director of Oil Change International.
China's oil and gas consumption isn't gonna rise no matter how much stimulus a Trump deal brings, they're already past peak gas with electric vehicles.
Not that fast. 90% of Chinese vehicles are still ICE. Consumption is low right now, they aren’t buying enough of the EVs yet. And you have to think beyond EVs - industrial production scaling up will also consume a huge amount of oil and gas. If China wants to keep meeting their growth target, consumption has to go up.
China's oil and gas consumption isn't gonna rise no matter how much stimulus a Trump deal brings, they're already past peak gas with electric vehicles.
Not that fast. 90% of Chinese vehicles are still ICE. Consumption is low right now, they aren’t buying enough of the EVs yet. And you have to think beyond EVs - industrial production scaling up will also consume a huge amount of oil and gas. If China wants to keep meeting their growth target, consumption has to go up.