China’s EV Boom Threatens to Push Gasoline Demand Off a Cliff
China’s EV Boom Threatens to Push Gasoline Demand Off a Cliff
(Bloomberg) -- From Tesla chargers in the ancient alleys that surround the Forbidden City in Beijing to lonely highway rest stops with charging posts in the western deserts, signs of the electrification of China’s transport fleet — and the demise of gasoline — are everywhere.Most Read from Bloomberg...
Don't threaten me with a good time!
Fuckin good
Won't someone please think of the oil companies.
On one hand, good. Great!
On the other hand, I live in the United States of Trumpistan. So many nincompoops here would be happy to drive a smoke-belching pickup truck to their office job while China speeds away from us with all their fancy book-learnin’ technology.
Bad news for Russia.
Also bad news for US: “drill baby, drill”! Oops
Worst of all, bad news for the environment, as US says “I told you so, plenty of cheap gas for my SUV”
Sorry, a bit frustrated with my fellow citizens
I'm confused, so if China reducing their oil consumption is bad for the environment, does that mean China burning more oil is good? Call me skeptical.
Demand needs to drop, that's always a good thing. Yes, in the short term prices may also drop and some dickheads will get a good deal, but prices will correct as the industry shrinks and production drops. The more demand drops, the less economical large refineries become, and we can finally enjoy the death spiral of a contracting industry.
There are other (better) ways to kill the industry like a carbon tax and banning production, but in the spirit of trying all of the approaches this is still positive.
After reaching 50% share in July, it is up to over 53% in October. https://english.www.gov.cn/archive/statistics/202411/21/content_WS673f370ec6d0868f4e8ed4b2.html
EVs make better cars. Faster and quieter, cheaper operation costs, and profit/emergency potential from V2G (or just to home), and future robotaxi. Charging infrastructure expands with success/penetration. Even in US and Europe, EV models that are cheaper than their ICE equivalents before rebates are already announced/on the market.
IEA projections are always behind. Natural gas use in Europe and China is also down. and will continue its pace.
EVs are heavier, put more wear on the roads (for the same class of vehicle) and more microplastics into the environment from the tires. They don’t fix noise pollution, road safety or congestion.
We need better public transit, not robotaxis.
Fuck good, let’s have perfect.
They may not fix noise pollution, but they seem to reduce it. At least at urban speeds where I can be near them when they're driving, them sure seem to be significantly quieter than gas cars.
Hell yeah
Can't wait for prices to go up everywhere else!