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AMERICAS OIL: When Peak Chinese Oil Demand Meets Drill Baby Drill: FT

AMERICAS OIL
USEnergy BulletsNorth AmericaBulletCommodities

When Peak Chinese Oil Demand Meets Drill Baby Drill: Financial Times

  • An FT editorial notes that Trump’s slogan is a bet on the energy status quo, not on the future.
  • Editors ask what happens when the world’s largest oil producer goes all-out to boost production just as the appetite of the world’s largest oil importer may be peaking?
  • Demand from China, which has accounted for half of all world oil demand growth over three decades, shows signs of leveling off due to slowing economic expansion and a shift to green power and electric vehicles.
  • Meanwhile, President Trump declared a national energy emergency intended to boost fossil fuel output and reverse President Biden’s green agenda.
  • The US-China energy divergence is at root about competing visions of energy security. While China is embracing renewables in order to reduce reliance on imported oil while the US does not want to rely on a green energy supply chain dominated by China.
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When Peak Chinese Oil Demand Meets Drill Baby Drill: Financial Times

  • An FT editorial notes that Trump’s slogan is a bet on the energy status quo, not on the future.
  • Editors ask what happens when the world’s largest oil producer goes all-out to boost production just as the appetite of the world’s largest oil importer may be peaking?
  • Demand from China, which has accounted for half of all world oil demand growth over three decades, shows signs of leveling off due to slowing economic expansion and a shift to green power and electric vehicles.
  • Meanwhile, President Trump declared a national energy emergency intended to boost fossil fuel output and reverse President Biden’s green agenda.
  • The US-China energy divergence is at root about competing visions of energy security. While China is embracing renewables in order to reduce reliance on imported oil while the US does not want to rely on a green energy supply chain dominated by China.