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The IEA says China has hit peak oil - Oil markets face enormous glut

  

Category:  Health, Science & Technology

By:  bob-nelson  •  2 weeks ago  •  8 comments

The IEA says China has hit peak oil - Oil markets face enormous glut



Transportation is 40% of oil demand and this is going away.


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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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Bob Nelson
Professor Guide
1  author  Bob Nelson    2 weeks ago

I'm not doing Sam Evans every day on purpose. Honestly. But he's putting up some very pertinent stuff.

 
 
 
Buzz of the Orient
Professor Expert
1.1  Buzz of the Orient  replied to  Bob Nelson @1    2 weeks ago
"When China puts the skids on fossil fuels in its cities, Big Oil is in a very bad place."

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.

 
 
 
Bob Nelson
Professor Guide
1.1.1  author  Bob Nelson  replied to  Buzz of the Orient @1.1    2 weeks ago

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?

 
 
 
Kavika
Professor Principal
2  Kavika     2 weeks ago

‘’Drill Baby, Drill’’ probably not a good program.

 
 
 
Thomas
Masters Guide
2.1  Thomas  replied to  Kavika @2    2 weeks ago

Don't worry, we will make up all the income with tariffs...jrSmiley_88_smiley_image.gif

 
 
 
Bob Nelson
Professor Guide
2.1.1  author  Bob Nelson  replied to  Thomas @2.1    2 weeks ago

Mexico will pay for it.

 
 
 
Buzz of the Orient
Professor Expert
2.1.2  Buzz of the Orient  replied to  Bob Nelson @2.1.1    2 weeks ago

No, the American public will. 

 
 
 
Bob Nelson
Professor Guide
2.1.3  author  Bob Nelson  replied to  Buzz of the Orient @2.1.2    2 weeks ago

Oh!

 
 

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