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Chinese technology companies are paving the way for a world that will be powered by electric motors rather than gas-guzzling engines. It is a decisively 21st-century approach not just to solve its own energy problems, but also to sell batteries and other electric products to everyone else. Canada is its newest buyer of EVs; in a rebuke of Mr. Trump, its prime minister, Mark Carney, lowered tariffs on the cars as part of a new trade deal.

Though Americans have been slow to embrace electric vehicles, Chinese households have learned to love them. In 2025, 54 percent of new cars sold in China were either battery-powered or plug-in hybrids. That is a big reason that the country’s oil consumption is on track to peak in 2027, according to forecasts from the International Energy Agency. And Chinese E.V makers are setting records — whether it’s BYD’s sales (besting Tesla by battery-powered vehicles sold for the first time last year) or Xiaomi’s speed (its cars are setting records at major racetracks like Nürburgring in Germany).

  • Mantzy81@aussie.zoneEnglish
    51·
    18 hours ago

    We are long past peak oil. Look I’m not saying we’re not going to need oil long into the future and its use for aviation is currently unsurpassed but the argument is our reliance on oil is waning as newer technologies have come into play, especially in the power generation and automotive sectors. Chemical and plastic production is still vital and that can’t be done without oil. We’re not getting away from using it for a long tine but it’s past it’s peak.

    What Dumpy forgets is supply and demand (because he’s one of the worst business people ever) and releasing more oil into the market from his imperialist acquisitions means a drop in value - even the oil execs were apprehensive as to whether the takeover of Venezuela and being told they need to fix up their processing was a good thing as they don’t want the market flooded as that will cause the cost of oil to plummet.

    • redditmademedoit@piefed.zipEnglish
      41·
      18 hours ago

      As far as I’m aware peak oil production has not been recognized to have happened yet.

      Over the last century, many predictions of peak oil timing have been made, often later proven incorrect due to increased extraction rates.[9] M. King Hubbert introduced comprehensive modeling of peak oil in a 1956 paper, predicting U.S. production would peak between 1965 and 1971; his global peak oil predictions were predictive through the 1990s and 2000s but eventually were deemed premature due to improved drilling technology.[10] Current forecasts for the year of peak oil range from 2028 to 2050.[11] These estimates depend on future economic trends, technological advances, and efforts to mitigate climate change.[8][12][13] Peak oil, Wikipedia

      It is still assumed that global oil consumption scales with economic growth and under 2025 consumption increased.

      Global liquid fuels consumption increased by an estimated 1.2 million b/d in 2025 and is forecast to increase by 1.1 million b/d in 2026 and 1.3 million b/d in 2027. Consumption growth rises next year as global economic activity picks up pace. Based on forecasts from Oxford Economics, our forecast assumes global GDP will grow by 3.1% this year and 3.3% in 2027. Short-Term Energy Outlook, EIA (U.S. government)

      • thisorthatorwhatever@lemmy.worldEnglish
        2·
        4 hours ago

        Consumption is still growing, but the ‘oil’ in Venezuela is just tar, the ‘oil’ in the United States come from fracking. The days of sweet crude are behind us.