Why China can withstand oil's surge past $100 more easily than other countries
(www.cnbc.com)
from schizoidman@lemmy.zip to world@lemmy.world on 09 Mar 07:48
https://lemmy.zip/post/60431885
from schizoidman@lemmy.zip to world@lemmy.world on 09 Mar 07:48
https://lemmy.zip/post/60431885
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.”
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China, unlike the rest of us, plans ahead.
China, like the rest of us, murder Muslims. Simp all you want.
You’re not wrong, but that has nothing to do with their economic prowess. China is scary because they are both run by a psychopath and their leadership generally thinks ahead.
The US has the psychopath part down. Not the planning bit.
Me pointing out that they plan for the long term isn’t me simping for them.
Show me. Say, “The Chinese government murders Uyghurs”
China plans ahead by re-educating Uyghurs in concentration camps. They probably also killed some of them. Fuck the CCP. But at the same time China also invested heavily in green energy and infrastructure. All of these things can be true. And Taiwan is an independent country. Thanks for listening to my TED talk.
I guess if they have green tech it makes them okay
You come across more brainwashed than those you accuse
Only to someone who is brainwashed like you. Your words mean nothing, comrade.
It’s possible to celebrate the successes of something while also condemning its crimes… unless you’re brainwashed.
Prove it. Condemn the crimes specifically and show me how it’s done. Show me you aren’t a brainwashed ML simp.
You first champ, celebrate China’s planning.
I’ll provide my positive opinions of China once you condemn it. But we both know you’ll just laugh and disappear like the typical parlor pink.
I’m keen to hear them, I condemn China’s stance towards Taiwan, their treatment of Uyghurs and free Tibet.
According to the news we hear about China, they seem to be doing a good job moving away from fossil fuel dependency. Their rail network is impressive. And their reforestation projects are admirable.
Hey look at us go
Evil countries can do some good things. Whether accidentally or intentionally. Vice versa too.
Stop, hammertime!
The Chinese government murders Uighurs.
Not sure what point you’re trying to make mate, but me saying “the Chinese plan ahead” does not equate to me supporting them.
The Nazis had snazzyy uniforms, did a fantastic job of building motorways and keeping the trains running on time. Doesn’t change the fact they were cunts
It is entirely possible to admire one or two aspects of an individual, organisation or government and still think everything else about them is shitty.
Oh hey you’re my comment about it but the problem with Lemmy that got downvoted
Are you saying you are tired of hearing about genocide on Lemmy?
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.
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.
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.