As oil prices climbed past $100 a barrel for the first time in four years, OCBC analysts said China may be “less sensitive to a prolonged closure of the Strait of Hormuz than many of its Asian peers.”
“China has accumulated one of the world’s largest strategic and commercial crude reserves,” the analysts said, adding that its “rapid transition toward electric vehicles and renewable energy provides an additional structural hedge.”
Almost like renewables helps relieve the stress and instability from factors you cant control. Who would have thought?
When the weather is more reliable than a countries geriatric leadership.
China, unlike the rest of us, plans ahead.
I always forget when looking at energy production, the US is at 40% renewable+nuclear (21% just renewable) which is actually around the same for China ~40% renewable+nuclear (35% just renewable).
Try not lumping nuclear with renewables and write the post again.
Why bother, nuclear and renewables care equally little about oil prices and have close to identical carbon footprints.
Nuclear should be part of the solution. Unfortunately, most older plants are bomb factories, that happen to make power. No-one built the newer safe designs, till China got hold of the aborted UK designs.
At this point, most of the west doesn’t have the skilled personnel left to spin nuclear up quickly. We also no longer have the time to deal with building nuclear, as part of the near term solution to climate change.
We not only don’t have time to spin up nuclear, but nuclear is not economically viable, and the hope that small modular reactors would change that doesn’t appear to have panned out.
Nuclear power generation has some nice properties but remains by far the most expensive and time consuming option
I fully agree. The only thing to add is that a lot of the economic issues are due to the type of reactors used. The new designs could be a lot more economical. Unfortunately they get buried under the same red tape as the old bomb factory designs.
I suspect we won’t see a lot of them used until after fusion power renders them redundant.
Gulf oil has basically been the sword of Damocles hanging over their neck for decades; of course they’ve got plans for when it’s cut off.
Just like US and Europe. I mean the sword thing, not the plans
Kinda but the US (and therefore Europe by distant, unreliable proxy) controls the Arab side of the Gulf, so while it was playing with fire there was little reason to worry about it unless someone did something extremely stupid (like, I dunno, start a war with Iran). But then again Europe never had any real say over US foreign policy/warmongering, so I guess they’re the worst of both worlds in that sense.
