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I think it's been pretty clear that this administration doesn't understand cleantech and electrification. It's what led to them hampering projects causing electricity prices to spike in the US. Apparently boomers like EBT are equally clueless.

China has been the largest driver of oil demand growth for the last two decades. The Chinese meeting EV adoption goals half a decade early has a global impact. One of them is their thirst for oil peaking before most conventional forecasts. And that's before anybody accounts for first and second order effects of their EV exports.
 

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