EV boom causes oil consumption in China to fall sooner than expected
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- Опубліковано 7 лют 2025
- EV boom causes oil consumption in China to fall sooner than expected
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I have to say that your execution of your vids is outstanding Sam.
I think it is underappreciated that your visuals match your commentary so perfectly. The content is well researched and in-depth. Add to the fact that your presentation is natural and unassuming, not to mention not AI, makes this so good. It's rare these days.
Well done my friend.
Thanks you mate, much appreciated
I totally agree with you
E V is a propaganda outlet . His videos are delivered to him.
@@mikewallace8087 we are in a world of free will, you are allowed to believe whatever you want, I have a different point of view. Take care.
A. You are a great researcher. B. You are a great writer C. You are a great cinematographer D. Hope your family is faring as well as is possible🙏🙏🙏🙏🙏🙏🙏
I am in Shenzhen(BYD HQ location) China, gas stations here are halved at least, most private owned gas stations are out of business.
It's true! I'm been living in China for 18 years. Up until the mid-2010s, seeing blue sky in Shanghai center is a rarity, people would take photo of blue sky and post on social media to express their joy. Today blue sky is not a thing that is worthy of posting. Sure if it's raining for a week then blue sky appears at weekend, that is a joy to celebrate and that is same anywhere in the world. I've bought my 4th EV since 2020, and I see no reason to ever go back to ICE car no matter how much cheaper they have become. Love this channel BTW!
I know it's true....I've see pics of the fires..................
@@crforfreedom7407no you haven't. You absolute 🤡
You bought 4 EVs since 2020?
@@Edico999 I bought 2 in 2020 and 2021, then replace them both in 2023 and 2024.
south east asia and Europe is next
And by reducing your fossil fuel consumption (as a country) you are simply reducing the amount of money you are sending overseas.
Ross, bingo!
Agreed
China oil company converts gas stations into EV charging stations
You also have to wonder how much money from crude oil revenue funds terrorism around the world?
This *PLUS* you reduce your dependence on & exposure to the US dollar. Which is (was?) the default energy currency.
To me, the reduction in noise is even more impressive. With so many EVs and the banning of ICE motorcycles, traffic noise in a big city like GZ is basically non existent.
No bad smells too. Been driving to work stuck in traffic for 2-4 hr each day, taking in the gas emission from the car in front of you is a horror for everyone's health.
But we will miss the music from ICE cars and motorcycles. Future generations will miss the ICE music we grew up with and using EVs will slow down the global warming, which has been great for northern Europe, with warmer and longer summers. Global warming is also thawing Siberia, which will offer vast areas for agriculture. WIN WIN :)
@@AArata63No, it won't be missed. I look forward to an EV with FSD future.
wrr, any soundx etc any nmw, doens tmatter
The air quality is also measurably improving, it will take time as EVs take the market but in Norway they are already primary in major cities and the air quality has improved quantitatively and significantly.
you’re right about air pollution in china it has improved dramatically over the last 10 years. i live in shanghai - i’ve been here almost 12 years now and when i first got here it was BRUTAL. now there’s an occasional heavily polluted day but typically it’s better than most large european cities.
The sky don't lie.
Lower pollution can also means lower manufacturing and infra activities. China energy is still 53% coal.
It depends though if you check on the Chinese government side or other sources
Keep taking the Chinese medicine
@@Cars-k8e He lives there. U can see and smell it
I was in China in 2002 in Chengdu and Kunming. Was there again earlier this year, and the walking experience is completely different!
Way less noise pollution from EV because the government is very active to reduce the pollution.
However, go to India & us a, where ICE vehicles are mainstream & the noise is ... 😅
Any nation that imports most of its oil should move to renewables faster than anyone else. A lesson for Australia.
Right on. Same here in NZ although our renewables are quite high, a lot of money is sent overseas to pay for oil. Everyone should be stampeding to get the fleet converted to electric.
you are a dreamer
A lesson for the US. The US may produce more oil and be at record high levels, it cannot refine it and has to import most of its usable product. So not only will it have a product it cannot sell, it will still be even more dependent on imports if it does not adapt.
@@moarpwr4414- the US could still follow China’s lead and burn coal…and add more nukes. But the real solution will be too build new refineries, to your point.
@@Jason-rs6coChange is coming. You are trying to hold the tide back. Good luck with that! 😂
People don't realize how serious and strategic the Chinese government's investment in EV is. This is a national security issue and one of the best any government has pulled in the last 50 yrs to secure it's people.
Exactly, it’s more to an energy security rather being loving the nature.
That’s really an impressive move to be honest.
Because the US has a major influence on wolrd’s oil production so they’ll have the upper hands to containt China when it comes to oil
But China is not concerned about building new power plants. Australia is and that is why it is folly to buy an EV here. If 50% of Australians bought an EV the grid would collapse over night.
@@sidecarmisanthrope5927 if EV with solar power, nothing hurt at all
@@zacwayne1181 China is now building dozens of coal fired power plants. And people in NSW are already being asked not to wash their clothes or run the A/c. The sun does not shine at night.
@@zacwayne1181 or wind turbine in yard
Reasons for optimism. Great news. Let’s hope this trend occurs elsewhere in the world and gathers momentum. Apparently half of the world’s shipping is merely carrying fossil fuels and itself accounts for an enormous consumption of low grade polluting oil
Let’s hope other countries expand coal-burning power plants by the hundreds as China has.
Energy Independence-is a big deal.Clean healthy air is a BIG DEAL.
Having clean air in populated cities are refreshing.
@@FrankiePo89 Don't forget all the Job Security for the little kids in Africa and S.Am.... It's a "WIN/WIN" for sure...........
One thing that Western countries, Japan, and Many other countries don’t understand is the pace in which the Chinese are developing, it is unprecedented in the history of the world
Biden knows too well. He’s trying very hard to hold China back. Same for other western countries. Fortunately China is no consumed by religious wars or wars of any kind. It is single mindedly focused on develment. The West is taking that as a threat.
Makes sense. Oil is too expensive to waste money on.
Oil is cheap.....
Governments raise taxes, just wait till the honeymoon period is over for EVs
People will cry for the days of cheap fuel
@@vincentoflynn6996 Just wait until we are not breathing in so much toxic fumes. Won't that be a good thing?
Oil is subsidized out the kazoo to make it cheap.
@@vincentoflynn6996 Oil is very expensive!! My solar panels give me electric power for free. Educate yourself.
@@vincentoflynn6996 my home solar system charges my EV for free. Oil can't compete with that.
Most EV owners I know have or are planning to do the same.
China has been very heavily dependent on mid east oil for light medium transport. It was a matter of strategic vulnerability. It is seeking to transition to 'new energy' transport as quickly as possible.
.
It is much more that China business is far more capitalist than USA. (Obviously not the government). They see a money making opportunity and pile in full time. FAB's and semi-conductors, solar, wind turbines, EV cars; they can make a shed load of money selling this stuff to the world as the USA is old money with all the power.
Both Europe and China working on transition to electric cars I think for this reason, to reduce external reliance.
China has 55 operating nuclear reactors and 25 nuclear reactors under construction. China's nuclear capacity is expected to reach 200 GW by 2035
And the amount of nuclear they are adding is dwarfed by the amount of solar
The energy independence story of the century is this:
China invested and continues to invest extreme sums of money into solar panel and battery technology.
The combination will eventually allow a large portion of their *nighttime* electricity to come from solar as well as all of their daytime electricity.
Becoming the the world’s leading automotive exporter by applying their leading battery technology to EVs has been a mere side quest.
In China, commercial vans are 90% electric by now, I also notice rapid increase in 3-5 tons new fully electric trucks, and see them often on the roads and superchargers
Wow!
The more a vehicle is driven the larger is the incentive to move to electric. So fuel consumption is reduced rapidly.
Switching to electric vehicles has also greatly reduced noise pollution in Chinese cities.
The vast Chinese high speed railway network (all powered by electricity) has reduced the need for domestic plane journeys, and thereby aviation fuel.
Why ? Did china build their OWN ✈️ JETS if they are not going to use them ?
@@jerrybrennan5686 China is almost as large as Europe, it's impossible not to use them at all. There isn't such an extreme situation in real life.
If any US mega sized investment firm thinks to buy up residential real estate alongside US highways, they may make bank.
The coming vanishing of the noise pollution is a removal of demand suppression. As demand for this real estate rebounds up to where it would have always been without all of that noise, the associated price increase will be a source of appreciation on top of the appreciation experienced by otherwise comparable properties.
@@jerrybrennan5686 China is almost as large as Europe, it's impossible not to use them at all. There isn't such an extreme situation in real life.
The high speed train system is a failure. All lines except one are operating at a loss. Many are not being used at all. Some have been abandoned before completion. There are too few passengers, and maintenance is falling far behind needs. As the economy continues to fail, things are only going to get worse. Decrease in oil needs is because people can not afford to travel, one way or another.
This solar/wind revolution means that every country can be energy rich. This is huge. It will level the playing field more than anything.
This is so true, most countries have to import oil and most of them can't afford it. Money is taken away for more important things that could improve lives.
@paulc6766 ...and also making these countries dependent on petroleum while also polluting their environment, especially the air. There are *no* up-sides except the immediate satiation of energy, and all long-term downsides. Using petroleum for energy is akin to eating candy versus actual nutritious food. 🍭
Don't matter where you get your solar panels from . . . they still collect energy from the sun falling on your land.
It’s about time someone takes climate change seriously. I used to think that will be an impossible goal. Until the Chinese government put these things into their economy and make it their future growth. Thanks for sharing your insight.
We have one phev and one ice vehicle
The phev running cost is less than half. It’s also nicer to drive, better response, quieter.
The only people that criticize electric cars are the ones that haven’t driven one.
i remember my first year in China. Some days I couldn't see the building across the street, that's how bad the smog could get. Those days are long gone now. I think EV adoption played a big part.
I remember those days. And if had money in Shanghai you lived high up in a high rise. Many days I looked down and couldn't see the street! I mean, what 600 feet down?
I used to work in a big oil company in GZ China as a data analyst. I just quit my job last year cause I forsaw this was coming. I can tell you that, the fall of oil consumption will be much sharper than just 5%~10% (the CEO of the oil company just do not want to tell the truth). I estimate it will fall LEAST 35% in 2026 compared with 2021. The 2 main reasons are: firstly, the shift of commercial cars (taxi, and Didi, the Chinese equivilent of Uber) from ICE cars to EVs, these commercial cars consume at least 20% of the total consumption, and they will be fully electrified by 2026 (currently is 70%). Secondly, another fall of 15% is due to the shift of current private cars from ICE cars to EVs in 5 years (from 2021 to 2026).
Congratulations China!🎉 Thank you for your vision and commitment! Thanks to you humanity may have a much better future.
They power these electric vehicles with energy produced by coal power stations and then rape the planet for the lithium used in batteries, but otherwise yeah "thanks for caring, China 😂"
Would be interesting to see if Australia’s oil consumption has also dropped - I see a lot more EVs on the road now and not just Teslas.
Personally I haven’t been in a servo other than for coffee, air and the occasional charging session since I sold my last ICE car.
No more deaths over oil
No more deaths over oil, but lot of death from all the new coal fired power plants China has built.
For as ukranians this is a question of life and deth litteraly. Go go EVs!
The oil bubble will burst then. Many oil reserves are on the balance sheet of the companies. Estimated over $1000.000.000.000 of total value. If that is not gonna be turned into refined products it's gonna deflate the whole stock value of those companies.
Thats a good point, bit like the Japanese car companies valuation of their factories, all over inflated
What is this reduction in income going to do to the 'vanity' projects that Saudi is hell bent on building?
The arab world 😢😮
@@malcolmwolfgram7414the bigger question is what the following revenue is going to do to their social stability programs. They're kind of like ancient Rome in that regard.
Saudi Aramco said it's $100T at $100 bbl. And, they want to sell it. But, that position has changed to renewables, manufacturing ammonia and hydrogen and mega projects.
Even most plastics are not needed. These plastics are not biodegradable. An alternative is needed.
There is some movement in industry to create vegetative mimics of plastics we now use. Expect that whole area to grow.
For many uses we already have an alternative, one that China has in abundance, bamboo usually moulded
@@justinstephenson9360 I've heard of this. However, I'm surprised it's didn't takeoff yet. I guess the slow adoption is because of price. I personally would like to see different "grades" of alternative plastics such as degrades in 1 month, 1 year, 10 year, 100 year depending on the application.
@@justinstephenson9360 I saw bamboo spoons at McDonalds in Singapore. However, I don't see this working for making a plastic bag alternative. Perhaps something resembling a paper bag or a paper staw but stronger is possible using bamboo?
@@dr.x4050 The reason Petro is cheaper is because the plastics are made with the waste products of fuel production. The feed stock of plastics isn't just cheap, it has a negative cost since the companies would have to pay to get rid of the stuff otherwise. Plants cannot compete with a negative cost resource. Once the shift to electric vehicles is complete, the vegetative feedstock will be cheaper.
Is actually the purpose of electric vehicles from my point of view. Instead of exporting money , more of it stays in the economy that created the money rather than giving it away to purchase crude oil.
Ev cars is the future equipped with AI so you will not boring for long drive at that point you can sleep and watch move etc completely different to gas car
I have an extra $100 to spend locally on other things than At the gas pump
Australia spends $65 billion a year importing oil, just think what else we could do with that money. (Yes I know we would still import some).
Surprising India is not pushing EV adoption more , considering air quality issues in the cities.
because that's source of major tax revenue. Govt grab money from people in a spot where they cannot escape,
But pakistan is pushing ev boom little bit
Its economical to buy an EV and run it with electricity - and if you got solar panels, you get most of it for free. Its not only good for your city (less smog), but also good for the environment. So why not?
Because occasionally you might have to stop an extra ten minutes on your thousand kilometre trip and your time is so precious you cant afford that ?
And you’d miss the brum-brum sounds too much. So sad.
Pollution goes to the suburb where yo have these mines and power plants feeding the factories of solar panels, copper wires and batteries.
The factories of solar panels can just put the panels on the roof and make more panels using energy generated by the panels made by the other panels.
They are good for cities with smog, but I didn't think solar panels were free?
Good
Your videos are educational Sam. Awesome job sir.
Appreciate the kind words!
Good. Now if only Japan could start switching diesel trucks and passenger cars with EVs. It blows my mind that Japan has to import 100% of its oil and yet they arent trying to switch to EVs. Mind Boggling!
because of the big car companies in there. toyota is even too stubborn to switch EV.
Nope it was at demand of USA
does that mean anything to wall street 🎉
path dependance, its extremely hard to abandon diesel technology you've been developing for the last 100 years, all the energy infrastructure and car companies are in this symbiosis relationship for way too long. Electricity are already in constant shortage in Japan for a long time that Japanese gov has to subsidize its people to pay their electricity bills, also they are very cagey about nuclear power since Fukushima incident, politicians are afraid of public backlash they don't dare to even bring it up.
They know something the rest of the world doesn't - like PERHAPS EV's are a dead end street.
That's good news for Environment
EVs are great for large city pollution problems.
And America will still live in the 19th century
I am new to this channel but i am very pleased to see the very quality of the comments made. I would like to make 2 points: 1 - the downing in oil consumption can be seen in the market, to the end customers and that trend really seems to be perenial, but i don't think this is going to make the oil market dwindle as a whole, because countries like China and India make reserves with the oil they can buy for a discount price, to make for energy security in their internal economies; and 2 - once they have a really huge reserve and do not need to store oil anymore, they can sell this oil to the periferic economies that would take a longer time to adjust. Besides, i think myself that the oil can be used in the future to acomodate for a spike in the demand for eletricity, generating electricity to balance costs inside the market and protect from external threats.
Glad to hear this!!!! It means even CHEAPER gas prices for me..............
Due to the cost of drilling, transportation, and the refining oil into gas, your cheaper gas prices are a dream. Oil companies are not going to sell at a loss when the breakeven point for new US tight oil reserves is $60-$70 per barrel. Global production will just be reduced to maintain profits.
Only temporarily. Try to remember just a few years back. Oil prices collapsed during the COVID shutdown, wells were capped. Then the war started and the US could not just snap a finger and produce more oil. These trends in decreasing oil usage will put tremendous pressure on fossil fuel producers, supply and demand will be even harder to predict or set prices for. So we will pay for energy no matter the source.
Yes, I paid $2.19 a gallon to fill up last time. Adjusted for inflation that is less expensive than it was back in the 1950s.
However, lower profits mean lower exploration and lower new production.
They also mean reduced economies of scale.
And it will also mean fewer gas stations and fewer places that repair gasoline cars.
Are you and I should enjoy this temporary bubble, we need to realize it is temporary.
As the network effect was lost the price of landlines went from $ 16 to nearly $80.
We can expect to see similar shifts in operation of gasoline cars over the next 10 years
@@macmcleod1188 "I paid $2.19 a gallon to fill up last time. " Where are you? That is low.
Not how it works because of the immense cost of drilling, infrastructure, processing, transport, commercial distribution, etc. If anything they may jack up the prices on you to compensate for lower sales volume ..... 😅 Of course when you tell Exxon how much you love them.... I'm sure they'll give you a special price. Oil companies care.
When will Australia wake up and embrace the obvious advantages of EVs?
I read that EV sales were growing rapidly in Australia, driven by a big increase in the number of new EVs coming onto the market from China.
It's happening. We are getting into the steep bit of the S curve soon.
Part of the problem is that the federal government has refused to specify emissions standards for each vehicle, a status we share only with Russia. When that changes, things will improve. But with EVs becoming more affordable and much more convenient to charge, the market will probably turn before anything happens. As soon as EVs hit price parity, sales will boom.
There is will not be “an” s curve.
The appeal of EVs is very different for those who cannot charge at home.
Australia profits from sending inreasing coal and gas amounts to China's electrical generation plants
Oil and war go hand in hand. War can unfortunately change any positive development abruptly. Let's pray they don't use this card to perpetuate oil
The US should learn from this but we say drill baby drill
Look who is becoming president next month. 😂 The current one is a fraud too.
“We” don’t say that. The Conservatives do.
@paulb6736 they are not conservatives
@@AdrianMorris-g7o They're feudalists. They want Trump as king, and Big Fossil as the barons and the Evangelicals as the monopoly Church. And themselves as the knights who enforce injustice against us peasants. Feudalism was a privatized security state.
@@AdrianMorris-g7o i don’t follow?
Excellent program.
Its exponential.
2 to 4/
4 to 8/
8 to 16/
16 to 32/
32 to 64/
64 to 128/
128 to 256/
256 to 512/
512 to 1024/
It will be over exponential fast for Oil. Thank You Sam for your Videos. Xmas and a good New Year. What a times it is.❤👍
I only do 10,000 Km a year in the cars but the car we use around town is an old electic Leaf and we only get the petrol Mercedes out for long trips. This works out at about 5000 Km each and means that half our fuel or about 400 Lts is replaced by solar electricity from our solar panels saving about $1200 a year.
One important point is China is not the largest emitter per capita which is what matters. I think the US emissions are double that of China as is Australia.
True, but globally seen China, with a population of 1.5 Billion people, it has more 'capitas' than whole Europe, whole North America and whole Australia and New Zealand added together.
China still produces most of its electricity by burning coal (about 60%) and that's not projected to shrink or stop anytime in the near future. China's coal is considered one of the 'dirtier' types and contributes a lot to its air pollution problems. Yep, coal is a fossil fuel just like oil and natural gas.
@@crosslink1493 Around 60% now, around 77% 10 years ago. Analysts predict China coal use will peak between 2025-2030 even as total power generation increases. I think that is pretty good for a population and manufacturing base that large.
True
@@thorblau7943 So when you live in a small country you are allowed to emit more CO2? 😊
Every county wastes so much potential paying for oil imports. What a different future. To make a difference, countries must go > 50% EV.
Energy self sufficiency is a National Security issue, so I don’t understand why in Australia the LNP along with “ right wing” media continue to pander to the fossil fuel industry
Here in Europe right wing also love fossile fuels. Part of the conservative thinking and unwillingness to change.
Because America is the biggest exporter of fossil fuels
Jobs Jobs Jobs!!! That is all a right winger will say when it comes to something that pollutes…. Renewable and social service jobs don’t count in their eyes…. No kickbacks for the crooked politicians so the jobs aren’t real jobs in their eyes
@@cryptorenegade1406 Trump threatens EU with tariffs over oil and gas imports. Would be nice to be energy self sufficient. Somehow the EU don't call the US a bully but think they represent the free world. The US is no more Democracy but Oligarchy funded by the Oil and Gas lobby. The energy transition will eventually bring this to a end.
It is because the people controlling the US and therefore all its vassal states such as Australia has huge stake in the oil industry and dollar hegemony. The collapse of oil demand means the collapse of the dollar. That will be the end of the american hegemony. I won't be surprised if tariff on Chinese cars will be introduced in australia despite australia not having car industry to protect.
Renewable Electricity prices are so much more stable and predictable than oil prices and far less subject to geopolitical events
In Australia we import 90% of our daily oil needs. We're extremely oil poor. The sooner we get rid of all ICE cars, the better.
Unfortunately,we live in a brainwashed society here in Australia, I tried to have a sensible debate at work, and explained we don't produce oil, and have a lot of lithium and copper,so EVs would be a boost for Australia, the response I got was why can't we have a nuclear waste dump.We are living in a backward nation
@@filippoleombruno8624try living in a country with lots of expensive to produce oil. In Canada oil makes up 5% of our total GDP, but fans of oil control our Conservative Party, and wish they could turn the clock back 50 years. I’ve tried to have our version of that conversation. It’s economics that drives everything, not what we have the most of. We have lots of Uranium, but nuclear power is ridiculously expensive to build, and takes forever. OTOH, wind farms are relatively cheap in comparison. Solar is now dirt cheap. Battery storage is also becoming very cheap. All of those can come online relatively quickly. The hardest part for some to understand is that it’s a transition, not an overnight replacement. Took us 100 years to get here, probably take a few decades to move on to the next. Will we, absolutely. Why? Because it makes economic sense.
I’ve been waiting for years to hear more stories like this!!
Just want to say thanks, Mr Viking, for all your facts-based optimism about the future. You really help. Merry Christmas and good on ya.
End of an Era
aviation industry will still use oil
But not cars or trucks. Fossil fuels are as unsafe a long-term bet as buying coastal property!
Tectonic plate shift/volcanoes. Earth will protect itself from us
@@pranshukrishna5105shipping and mining as well which use tremendous amount of energy. China still relying on coal which is 53% of energy source in 2024, from 57% in 2021. Switching to EV maybe means switching to coal.
@@arttellama2408 China will build out renewables(fastest in solar and wind as of 2023) and so they may be able to phase out coal sooner then you might expect
Good very good …less pollution too.
Do any of those replying read? China has added hundreds of fired power plants to meet electrical demands.
...and job security for little kids in Africa and S. America too!!!! That's important.....
But still, 100,000mi for ROI environmentally....... That's significantoo>>>>>>>>>>>
@@arnoldroquerre6912 Apparently _you_ don’t read. China is now adding so much renewable energy to the grid - the equivalent of five small nuclear power stations per week - that coal fired power stations are now only running at about 60%. Many are struggling to remain viable.
@@arnoldroquerre6912China has massive renewable growth and its grid is at some 40% non-fossil fuel powered. China adds the equivalent of 1 nuclear power plant's worth of actual solar capacity per week!
The peak-gasoline and peak-diesel will only accelerate Chinas the economy away from fossil fuels in other areas of its economy. China added a hefty 230GW of renewable capacity in 2023 and it accounted for 50% of the global renewable growth in 2023 too.
China's coal permits have declined, and the existing coal power plants are generally running lower capacity factor than they'd like. Please do your own reading.
The US passing 50% grid power by non-fossil fuels. Canada's grid is at 81% non-fossil fuel. EU is at 60% non-fossil fueled.
@@arnoldroquerre6912 Furthermore...
EVs provide economic incentive to de-carbonize the grids everywhere. Because every dollar spent on upgrading the grid buys both cleaner EVs and cleaner industry since the grid is involved in almost every sector of the economy.
OTOH, fossil fuels vehicles _have never_ and _will never_ provide this economic benefit. Continued use of ICE just drives us further down the climate change hole and pollution misery. Continued use of ICE keeps the world dependent on OPEC and fossil fuel dictators like Putin that do not hesitate to use oil as an economic weapon.
the power of ying yang is BALANCE !!!affects everything in life Cars ,Food ect Excellent Theme !!!! Thanks for Sharing!!!
If I were an oil company I would have already become an energy company with oil as only part of our product.
They were trying this but like everything in the West they are now backtracking because short term profits come before anything.
Good News!
Chinese governmeent makes it very very difficult to register ICE vehicles which carries a unique registration plate. Whereas EV registration ia super easy.
Depends on Region. In Big Cities where Pollution is "an Issue" like Shanghai, Beijing, etc ...... Quota for ICE have been reduced due to POLLUTION. Whilst in rural areas .. ICE permits are still possible.
@@sunshinesun121 There are fewer than 10 cities with such restrictions. Only 10% of China's population is affected.
Good video and on point regarding oil demand in China.
Earlier this year my financial analysis friends who watch oil and economic growth were saying that China economy was still struggling post pandemic because there oil consumption was low and dropping. My retort was that they had also seen a surge in EV adoption, which isn’t easily quantified in the way we currently/previously gauge economic activity and data.
On the surface, lower demand and consumption of oil means lower production activity, without recognizing that China has commissioned massive amounts of solar and wind at an unprecedented scale PLUS the mammoth EV adoption that is still gaining more momentum.
A new reality is appearing and China is leading the charge, hats off
The west coast USA weather has improved as less fossil fuel is used in China. I’ve noticed it since the pandemic.
Also the big plus in auto repair garages
Is it will be much much cleaner safer eviorment to work fora living not only that the reduction of chemicals in trying to keep place of work clean is nice .
and the US incoming president says "drill, baby, drill". Good luck with that.
The mindset of Mr. Drill is very 1980s.
Hey leave the '80s out of your mouth more like the 1960s if you really think about it. 😅😅
@@crocoman5644not really. What’s wrong with consumers having choices? If you want an EV then buy one, if you want a gas powered car then buy one…
@@JDMSwervo2001 Consumers won’t have a choice when the arse falls out of the ICE market in a few years because nobody will be making them anymore. That’s capitalism.
@@JDMSwervo2001 How about making the choice to give fossil fuel companies the big heave-ho? In five years time manufacturers will no longer be making ICE vehicles because it will no longer be profitable to do so. And that will be the result of market pressure. The choice will be made for you.
Awesome news!
whats most important for the chinease is national security. oil is a weapon of war and china is getting ready for something. there is a reason they are investing so much in nuclear power and solar. if you can keep your economy running during a war, you cannot be defeated.
You’d be an American then…?
Then why did the PLA build three aircraft carriers that run on diesel fuel/petroleum fuel?
@@crosslink1493 new navy design lets you basically run ships like a phev. diesel electric type of distributed propulsion system has a lot of advantages to survivability that nuclear power cannot do. also most of chinease made aircraft carriers dont have catapults which are usually a good use for the steam that is inhearently made by nuclear power. china is still learning how to build smaller/efficient nuclear power because they did not focus much on their sub surface navy for the last 40 years. it really was neglected since the largest precevied threat for most of their history was russia, not usa navy. china has a lot of catching up to do in terms of large capital ships, and they are more likely to be used in a coastal defensive role where refueling is not that big of a disadvantage.
That's why cities in China are reporting cleanest air in the world.
With the reduction in oil consumption....it will make wars for control of fossil fuel resources less profitable.
Water resources will be the next thing we goto war over.
It’s a big difference. Any downward demand for oil is a big deal. Big oil is watching it closely.
Hense all the misinformation.
With oil going down, I think glass will have a resurgence. Glass bottles, milk jugs, etc.
EV cars in Thailand are gaining ground. The issuse with pollution here is mainly from crop burning in Laos, Cambodia, Burma, Vietnam and of course Thailand farms as well. It is impossible to control the smoke coming over the borders.
This is India's problems as well.
Umm.. analysts usually miss the fact that while rising EV use reduces gasoline & diesel consumption, it ALSO reduces the service products and industry for fossil engines: oil, maintenance and repairs, and all their fossil consumption.
This means a cascade of demand reduction as industry no longer needs to make as much lubricants, repair products, transmissions, etc.
And the entire fuel consumption of deliveries and trucks used to haul maintenance parts and service techs will also go away.
So even less pollution and less trucks on the road, another win....for some !
I need to sell off my ICE oil and coolant hoard while it is still worth something the last year and 1/2 with an EV I only top up the windscreen fluid and tires and the car tells me to. The few times I have driven an ICE car it is so vintage and clunky.
@@JonathanTamm I know what you mean, I had to move someone's ICE last week, it was like what I imagine a model T Ford must have felt like, turn a key to star, 3 peddles and a gear stick ! such fun.....not and don't get me going about the noise and smells plus it was cold as it didn't heat itself instantly like a real car does, real car as in an EV, when I got back in I asked to see if he had a Nokia phone as well !
Well yes, but, like all new technologies it also creates a load of new jobs in that sector.
Yes and when demand for whale oil for lighting went away, so did the whalers, the ship builders, the oil processors and the retail distribution sector. Jobs then grew in electrical generation, distribution and all kinds of new electrical uses. Transition to EV’s will fuel new jobs to replace the old, and help fuel new industries.
GREEN intiative DOES work!!
There will come a time when its not financially viable to operate gas stations as there arent enough customers.
Already happened in China and Norway.
@@freeheeler09 Well, Norway still has way more ICU Cars (Diesel and Gasoline) than electric cars on the road. But true, when you have 30% electric cars in the fleet you need 30% less gas stations.
And it's predictable that the market share of electric cars will grow more and more.
Next year 100 percent of new car sales in Norway will be evs. Family cars and vans that is. Most buses are already electic. It goes without saying that fossil fuel sales will drop.
@@thorblau7943 Actually the demand decrease faster than the percentage of ICE cars. That's because new cars are used a lot more. Most of the ten year old or more only drive a few 1000 km a year. You don't buy a new car to be sitting in the garage 99% of the time.
They already make the most money by selling coffee and snacks so a quick switch to charge stations will not hurt em much
Coal 😮 Crude Both are Decreasing
China is building COAL plants now so they can produce electricity to power all the electric cars ( coal is NOT going away )
Highspeed rail in China is electrified. Just extrapolate how much jet fuel China has already avoided from consuming as a result. Then extrapolate that into the future. Now, imagine if the leaders in the West / US had done the same instead of the trillions on weapons and fossil fuels based vehicles / infrastructure.
The electricity for those hi-speed rail lines in China has to come from somewhere, and its mostly from coal-fueled power plants. China is known as a large military weapons industry, too.
@@crosslink1493 The demand for coal fired energy is falling. China is installing huge amounts of renewable energy. Many coal power stations are running at less than 60% capacity and are struggling to remain viable. China currently gets 53% of its power from coal. That’s down from 77% a few years ago.
America has a huge weapons industry too.
@@crosslink1493 U.S. spends more on the MIC than the next 10 countries combined.... And of course the funding for the endless wars in the Middle East, Ukraine, Afghanistan usually comes in as a separate bill on the taxpayers. U.S. spent over 2 Trillion in Afghanistan to replace the Taliban with the Taliban. Only took 20 years to do it. 😅
China is making a huge effort to move away from coal and oil to renewables ... what is the U.S. doing?
@crosslink1493 As of 2023, China has the largest photovoltaic (PV) capacity in the world, significantly exceeding other countries, with a cumulative solar power capacity of around 609.92 GW, compared to the United States at 129.21 GW.
@crosslink1493 China is by far the largest installer of wind power capacity in the world, more than doubling the second-ranked United States. As of end of 2023, China had cumulatively installed over 464 gigawatts of wind energy, in comparison to 150 gigawatts of wind energy installed in the United States.
China is amazing
Hydro, solar, wind, nuclear, hydrogen, and energy storage will eventually reduce the fossil fuel consumption greatly and this has been the grand plan for a long time, at least for China.
Hydrogen is done.
Chinese Transport will be fully be EV in next 10 years. Industrial demand will fall by half. So 60% demand will drop within next 10 years. Other oil demand will fall by 15%. China produces 4 mn barrels/day. So china will not import any crude by 2035
If rest of the developed world do them, Oil demand will fall by 40%. So Oil Demand will fall to 60-70mn bbl/day
Your conclusion is wrong, even if China achieves 80% of its electric cars, it still needs oil, because oil is not just for cars. There are a lot of chemicals in oil that need to be used in all walks of life, and of course the gasoline is transferred to other industries.
This is the big trend to watch in 2025
Oil consumption in the world is still increasing every year until at least 2030
President Musk's first lady says drill baby drill😂
I just came back from China, where coal-fired power plants are everywhere. Xi’s wife says did baby dig for coal.
I hope we can reduce the taxes we put on EVs in Europe so we can afford to buy cars again. Could in some years give os new cars for 150 000 Euro. It should change everything for the better.
Many places around the world are running out of water in their aquifers. How much crude oil reserves are still available?
Read about abiotic iol
Best news
With less demand for oil, China won’t have as much pressure to trade with the US for US dollars. Perfect timing for trade war two. 😂
Yep be self sufficient on resources .
I thought of another problem I haven't heard anyone speak of. After we refine out the gasoline kerosene diesel and some other stuff from crude, we are left with new roads. Asphalt. What are we going to drive our EVs on?
--------
Follow up. Just learned there are asphalt deposits/mines not in use because petroleum distillation make them currently uneconomical.
Especially as tar is the first product of the crude oil.
On road. There are already alternatives for that.
Germany can explain to you the joys of driving on a concrete highway😅
@Dusk_hunter non petroleum based asphalt?
@pathfollower old method like bricks, limestone, new method like concrete, carbon bricks etc etc. engineers are rediscovering roads. Recently they even used recycled plastic.
And noise is much quieter too
If we need more aviation fuel, what do we do with all of the petrol that will be spare? The ratios of fuels coming out of fractional distillation is not something that can be adjusted to a great extent.
Good point, that will drive development of alternative ways to replace plastic components for example to make the world less dependent on the other constituent parts of the crude oil distillation process. Otherwise we are stuck with it.
You sell it at a loss anywhere you can. This is what is done with heavy residual oil (mazut). Heavy industries (smelters, shipping, mining, electricity generation, construction) needs a huge amounts of energy and they use cheapest sources they can get. That said, mazut is still more expensive than coal and peat, so, before everyone will get rid of coal there always be places for petrol and diesel to burn. On the side note, a heaviest product of oil fractioning - bitumen, is indispensible for roads and roofing. So, kerosene and bitumen will stay with us for a while. Another way is to pump oil products back down to where oil came from. This is done with water which comes in mixture with an oil.
It's amazing how quickly a huge country can change when the finances and defense strategy align. China has huge solar companies, and only marginally important oil and traditional car companies. Without the financial influence of oil companies blocking everything, they can get clean air and domestic energy sources in only a couple decades
I don’t think people will throw away their ICE cars when they get an EV. They will just use them much less. Due to living on low income in retirement, I have reduced my driving and would only drive my Toyota as a last resort if I had an EV. It too would stay home for solar storage most of the time.
I thought about that use case but the challenge is insurance. You have to ensure both vehicles.
Otherwise I agree with you. I'm putting only 5,000 miles a year on my old gasoline vehicle now which greatly increases its lifespan.
However, my next vehicle has been an electric vehicle for years. I have a small solar panel footprint now but I would go to a full-scale system when I bought an electric vehicle.
But of course people won't simply get rid of their perfectly running ICE cars by throwing them away into junkyards, no one sane is expecting that to happen!
What's important is that more and more people own and drive mostly EVs for most of the time, and the sooner, the better... ICE car usage will eventually gradually decrease, either by lack of available spare parts to keep them running; extra ownership expenses people don't want to pay for; higher fuel prices; more ICE driving restriction zones etc
My family throw away our ice cars for ev cars. We are very happy with our decision
One of the major reasons for popularity of EVs in China is high oil price. A lot of people did not realize it.
Good news hopefully coal too…
My understanding is that China built a lot of coal power CAPACITY intending to use it as baseload to stabilise variable renewable production rates, but that those plants don't actually operate at full capacity. I read somewhere that the govt now has to pay many of them to stay operating because they're needed so little that it's uneconomical now. They're looking at closing some early now given their renewables push succeeded beyond initial assumptions.
As for coal for steelmaking, they just came up with a much faster way to make steel (6 hours down to 6 seconds) that completely eliminates the need for coking coal. So once that tech is rolled out, they won't need coal for that either.
@@nurainiarsad7395 China still relies on coal for most of its electricity production, something like 60% (2023), and that's not projected to shrink significantly in the future. Plenty of coal in China, it'll still be the predominate means of energy generation for quite a while.
@@nurainiarsad7395 Chinas reliance on coal power is falling. It’s now at about 53%, down from 77% a few years ago. And if you watch Sam’s video, you will quickly see that they are installing renewable energy at a massive rate. That means many coal power stations are now operating at about 60% and some are struggling to remain viable.
Why do you want to make coal miners homeless
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We had a Chinese advisor ( German and Finnish as well) in Salem Oregon at an escalator beta site installation (2015). We had coffee at an outdoor sidewalk table and our Chinese friend would always be looking up. I asked why and he said not many blue sky days in China. The German and Finnish guys were in love with the pickup trucks passing by. Retired now 😂.
Trump says, Drill baby Drill!
Is this yet another example of Trumps crass stupidity?
Yeah, it is 😂
About as stupid as the CCP bullying its neighbors instead of diplomatically working with them to improve the economies of all countries on the western side of the Pacific and the South China Sea area?
He's a relic of the past
We want choice here in America
We have choice here not the best choice but we have it idiot or not idiot.
Reduction in oil consumption for China is a necessity in fact It's a matter of national defense. If the US ever decides to block the straight of Malacca, that ends oil entering China.
US could not pull that off anymore. China's fleet is much larger today. And unlike the US, they have access to hypersonic missile systems on their ships. They also have more submarines today too. They launch 5 new ones a year. US thinking it can impose its will upon China? Is a dream that will become a nightmare for them very quickly.
@@davefroman4700 china has a larger fleet, but most of them are smaller than a standard size Korvet. Not to mention China can't go beyond 1100 miles from their bases because they don't have a blue water fleet.
@@sergiomessina2037 They do not need to. China's military is based upon defense. Its not them than has to move resources half way around the world. They only need to be 1000 Nm off shore for their missiles to hit the US. And right now the US does not have the shipping to move the resources it needs. Nor does it have the ship building capacity to replace its fleet anymore either. Most of those 2nd WW shipyards that sprang up? Are now water front condo's.
@@davefroman4700facts , analysis and conclusions are quite flawed.
Enjoying the channel. Many Thanks for you efforts. What is the charging infrastructure like in China? In the cities, Suburbs and inter-city?
Thing is that battery drain can be unpredictable sometimes. I wouldn't want it on an airplane.
China oil company converts gas stations into EV charging stations
Sam, when are railroads going to start using electric locomotives…seems a very easy transition as a train can literally pull megawatt battery cars to power the train
The threat of blocking Malacca Strait against China is less and less relevant by the day. China needs less oil import over time. In addition, the Northern Sea Route via Russia is opening up. China also has strategic oil reserves as well as the world's largest Navy and direct energy import from Russia via lands.
Anything land based is so easy to sabotage, one tiny bomb and it's down for weeks plus patrolling such a long pipeline will be a nightmare.
@@stevenbarrett7648 ， Not necessarily, especially when the pipeline lies across on Russia's and China's land. Any sabotage as you suggested would be easily tracked down and possibly prevented.
After all, in terms of technology and protection of national sovereignty and dignity, Russia and China are very much unlike the Federal Republic of Germany, which doesn't even have the courage to find out, let alone to announce, who the freaking hell blew up their Nord Stream 2 pipeline which used to provide them inexpensive energy from Russia for years. And now they were coerced by the US to purchased natural gas from the US at 4X the price of that in the US.
I feel like this in Dallas . I don’t roll the widowows down because I’m poisoning myself . After less than 5 min on i30 I get massive headache and feel sick.