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China's 70% EV Target Deals Another Blow To Oil Demand
China's 70% EV Target Deals Another Blow To Oil Demand
Authored by Tsvetana Paraskova via OilPrice.com,
China aims to have electric and hybrid vehicles account for as much as 70% of all passenger car sales by 2030, in a massive transport shift set to further dent oil demand for road fuels.
As of the end of last year, the share of the so-called new energy vehicles was 54% of all passenger vehicle sales.
In the new five-year plan for the automotive industry compiled by nearly a dozen Chinese government agencies, China also targets...
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AI Demand, War, & Climate Pressure Push World Back To Nuclear
AI Demand, War, & Climate Pressure Push World Back To Nuclear
Authored by Haley Zaremba via OilPrice.com,
The US and Canada each announced plans this week to build ten new nuclear reactors, the biggest coordinated nuclear push in North America in decades.
The moves come as the AI boom, the war in Iran, and broader geopolitical instability push energy security to the top of the policy agenda worldwide.
China added 34 gigawatts of nuclear capacity over the past decade to the US's one plant, and is on track to overtake both the US...
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