OPEC is going into a death spiral – because of China

> China’s Chebai think tank says the emerging consensus is that EV sales will hit 17m or 60pc of total Chinese share by 2025, rising to 90pc by 2030, assuming that the grid can keep up.

This is greater than total annual US light vehicle sales. S curve going parabolic indeed! China crushing OPEC was not on my ‘20s bingo card, delightful.

> Talk of peak oil demand is “withering under scrutiny”, said Saudi Aramco chief, Amin Nasser.

It genuinely pleases me that they are sticking their heads in the sand. It actually brought half a smile to my face.

I hope they continue being this confused about what is happening and where the world is going.

There's nothing we as a species need more than for oil dinosaurs to die off like the dirty anachronisms they are.

I believe we are on a plateau regarding global oil production and consumption. However I do not see how OPEC is on a death spiral. Since we are at the summet, sadly we are still in oil's glory days. Today I do not see there is any cheaper alternative to heating in winter, apart from methane, from which a lot sadly is lost during transportation.

Non paywall?