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.”
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.
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.
Why bother, nuclear and renewables care equally little about oil prices and have close to identical carbon footprints.