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.”

    • Armok_the_bunny@lemmy.worldEnglish
      8·
      12 hours ago

      Why bother, nuclear and renewables care equally little about oil prices and have close to identical carbon footprints.

    • cynar@lemmy.worldEnglish
      3·
      10 hours ago

      Nuclear should be part of the solution. Unfortunately, most older plants are bomb factories, that happen to make power. No-one built the newer safe designs, till China got hold of the aborted UK designs.

      At this point, most of the west doesn’t have the skilled personnel left to spin nuclear up quickly. We also no longer have the time to deal with building nuclear, as part of the near term solution to climate change.