China’s oil demand set to fall within two years

China’s oil demand set to fall within two years

China’s efforts to curb its oil addiction are expected to lead to the country’s demand peaking by 2027. Beijing has long worried that the US could undermine the Chinese economy by choking off its supply of foreign oil, and has poured investment both into reviving domestic production and electrifying its economy, especially transport. In a bid to wean itself off foreign imports, it boosted oil output by 13% from 2018 to 2024, while electric vehic…

China’s Peak Oil Demand Dooms Fossil Fuels, as US Ramps “PetroState”

China has been going all in on energy independence, moving the country to become the leading “Electrostate”.Peak oil demand in China, whether it happens this year, next year or the next – signals the end of fossil dominance. Wall Street Journal: BEIJING—China’s thirst for oil drove global demand for decades. Now a government campaign to … Continue reading "China’s Peak Oil Demand Dooms Fossil Fuels, as US Ramps “PetroState”"

How China curbed its oil addiction — and blunted a U.S. pressure point

China’s thirst for oil drove global demand for decades. Now a government campaign to curb that addiction is nearing a milestone, with national consumption expected to peak by 2027, then begin to fall