The latest Middle East tensions sheds light on how the world's three largest oil consumers have taken different approaches to energy, with global consequences.

As oil prices climbed past $100 a barrel for the first time in four years, OCBC analysts said China may be “less sensitive to a prolonged closure of the Strait of Hormuz than many of its Asian peers.”

“China has accumulated one of the world’s largest strategic and commercial crude reserves,” the analysts said, adding that its “rapid transition toward electric vehicles and renewable energy provides an additional structural hedge.”

      • Pungent Llama@lemmy.worldEnglish
        3·
        8 hours ago

        China plans ahead by re-educating Uyghurs in concentration camps. They probably also killed some of them. Fuck the CCP. But at the same time China also invested heavily in green energy and infrastructure. All of these things can be true. And Taiwan is an independent country. Thanks for listening to my TED talk.