China's EVs are fueling a big oil demand slowdown
China's EVs are fueling a big oil demand slowdown
China's oil demand growth is down this year, mostly due to the country's massive shift to EVs and natural gas, analysts from Goldman Sachs say.
What does this sentence mean?
The firm estimates that oil demand growth in the country is down to 200,000 barrels per day for 2024 compared to last year, with overall consumption down by 300,000 barrels a day.
Is oil demand growing or not?
7I can't find the original Goldman Sachs article anywhere, so I assume that it's not available free, but Reuters phrases it as "Goldman estimates a sharp slowdown in China oil demand year-over-year growth to 0.2 million barrels per day in the first half of 2024 and a year-over-year decline this summer." Based on that and how the Business Insider one contradicts itself, I assume that BI fucked up somewhere and the actual story is what Reuters said: demand growth has slowed to 200k barrels per day, and is expected to hit zero and then decline some time this year. The 300k per day number might be the prediction for how much lower demand will be at the end of the year compared to the end of last year, but Reuters doesn't say anything about that one
3Thanks, this seems plausible
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it's growing but not as much as before and it'll peak sooner than expected.
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You misspelled "spyware on wheels" as "EVs"
-7You're kidding yourself if you think the fact that it is an EV is the component that guarantees spyware in a new car. All new cars are equal in this shit storm.
4I own a non-chinese EV and it currently is an unavoidable, unregulated, heap of spyware on wheels, all of them.
The only benefit it has is my data is going to data brokers in the EU, which has some privacy laws, not the Chinese government, which has the ability to request any and all data from all companies in their country.
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Permanently Deleted
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