Francisco Blanch from BofA Global Research discusses the transition of China’s energy demand and explains why the traditional correlation between U.S. dollar and energy price has broken down.
BofA: China’s role as the key growth driver for oil demand is ‘dying out’
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This is good news! The environment must be protected.
China as stopped building coal and oil plants. Clean energy and battery storage are growing
I still believe they are still building coal power plants. However these are more efficient coal plants and are only used as peaker plants so their time of usage is low. See my other comments.
@@greggpon7466the target is 2060 it long game u need enegry in first place to manufacturing Solar Panel
@greggpon7466 Tesla giga plant built in Australia uses Chinese CATL batteries. When it was activated, that area of Australia stopped suffering blackouts. Battery stations are superior to fossil fuel peaker plants as well as cleaner. South Africa and Pakistan no longer suffer from blackouts. Oil is still used for plastic products while coal is used for special kinds of steel as a coating material.
@@lolcatjunior oh I agree batteries are better peaker plants. But they suffered through blackouts before. So for industry they may be applying a belt and suspenders approach.
@@greggpon7466funny how some people always criticise coal power but in fact new ones pretty efficient,even when it is used to power EV at least you could centralise the pollution and make it more manageable 😂
China has installed 350 gw of wind and solar I in 2023. In 2024 the last 4 months China installed twice as much wind and solar as the rest of the world combined.
Oil is not going up in price. This dude is the only one that recognized what is going on. The rest said it is totally because of a Chinese slow down. And they pay the lickspittles for their insight into the geopolitical evonomy🙄😳😂
Green overcapacity eh
That cnbc guy needs one of those scarfs that stick out the back……..along with some goggles.
Because chinese drive more ev cars.
not only EVs, also, more solar power stations are built as well as nuclear power stations. the new green energy become a reality to replace coal, oil and gas.
More than 50% Chinese new cars are new energy vehicles, EVs and phevs. In five years It’ll be 90%. No more oil.
@@soowo5942 let’s see pay US $300,000,000 for oil every year or pay a few trillion to local industry and get free sun and wind for the foreseeable future.🤔
It will take 20 to 30 years for electric vehicles to replace all fuel vehicles. Since China has 450 million fuel vehicles, and electric vehicle sales are expected to be 15 million this year, accounting for 50% of total vehicle sales, it means that it will take 30 years to replace all old fuel vehicles. However, if China’s electric vehicle production continues to expand and squeezes out fuel vehicle production, this process may be accelerated within 15 to 20 years.
@@lijackson-x6r question is if you will be satisfied PHEV’S that get a 100 km battery. These cars can also go 2000km with a charge and 65liters of gasoline. Currently there market is about equal to the EV market.
@@greggpon7466 Maintenance of pure electric vehicles is simpler and cheaper than that of extended-range electric vehicles.
Pure electric vehicles are designed based on motors and batteries. They do not have complex mechanical structures such as traditional fuel engines and gearboxes. Therefore, there are relatively few maintenance items, mainly focusing on the inspection and maintenance of battery packs, motors and electronic control systems. Pure electric vehicles do not need to replace regular maintenance items such as engine oil and three filters (oil filter, air filter, and machine filter), which greatly reduces maintenance costs. In addition, the maintenance cycle of pure electric vehicles is usually longer, generally once every 10,000 kilometers or about one year, which further reduces the frequency and cost of maintenance.
if your country has sufficient E-charge stands, you shall choose pure EV, if not, extended-range electric vehicles are also a choice.
@@greggpon7466 some taxi drivers prefer extended-range electric vehicle, pure EV needs 30-40 min to fast charge battery from 20% to 80%, normally enough for 300 to 400 kilometers run. but taxi drivers in HK do not want to waste 30 to 40 min, because time is the money.
The Saudi’s are missing their chance to sell oil. They are aiming for price control but are instead missing the boat.
Saudi Arabia has been preparing for the future and is one of the largest investors in new energy.
That’s a good news, china switches to renewable energy.
China ev cars save the mother nature ，but some countries just raise tariff to these environment saver
I thought it was the US who self-claimed as a world leader? 🤣🤣🤣🤣🤣🤣
It is that is why China is doing so bad. They didn’t do what the USA wanted so the country is dying.
EV cars are the future. Instead of having a “oil driven power plant” installed in each car, China consolidate the power generation and can use all diverse energy sources. As result, oil import has been dramatically reduced, and the city pollution has been dramatically reduced. Many people visiting China now day the air in major cities are even better than Europe.
This is good news. Less oil, the less American dollars getting circulated.