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| China is Creating a Future With Worldwide Electric Vehicle Adoption Getty Images IN BRIEFChina, home to the world's largest market for electric cars, is aggressively promoting and supporting the technology. This and the sheer size of the Chinese market are driving the same trend around the world. CHINA’S ELECTRIC CAR REVOLUTION China has become the most powerful political force driving the globalization of electric vehicle (EV) technology. And, while natural driving forces such as dwindling fossil fuel resources and the hazards of climate change are also hastening change, these political pressures are, for now, the most effective driving factors in the electric car revolution. Much of China’s journey toward EVs has been fueled by necessity. The Chinese government has invested vast sums of money into the industry and set aggressive pro-electric regulations because of its citizens suffering from worsening air pollution and because of the country’s overall goal of technological dominance including developments in artificial intelligence (AI) … for more, go to https://futurism.com/china-is-creating-a-future-with-worldwide-electric-vehicle-adoption/ |
Is this why the US is stalling on implementation of driverless EVs?
KUALA LUMPUR (October 2017): The CNBC.com Oct 13, 2017, report titled “Oil will crash to $10 a barrel with electric vehicle revolution, strategist says” must be an earth shattering reality to the US.
What is the US when it is denied or lose the use of oil to manipulate and consolidate its world domination and influence?
Is that the real reason why the US is stalling on the use of Artifical Intelligence (AI)-controlled electric vehicles (EVs)?
It’s okay! The US can continue with its “business as usual” policies and agenda. That’s their choice.
But, China will continue to push and forge ahead furiously with its EV technology for the benefit of consumers globally, and also ensuring that its products are affordable.
That’s the difference between a nation with a selfish agenda that is not people-centric nor govern with a genuine interest for the people.
And this is one of the main many reasons why China’s multi-billion-ringgit One Belt One Road (OBOR) initiative, the focus of I Love Malaysia China Silk Road, is attracting a global following but with much criticism from Europe and the West.
Both Europe and the US are slowly but surely losing the global plot - economically and in technology competency - to China’s march in this Century and well into the next.
For those who have been following this blog, you would have read of the many bias criticisms levelled at China - all because they are jealous of and are unable to cope with China’s superior economies of scale in production.
For example, all Europe can do is to whine and complaint just because China is able to sell cheaper electric bikes (e-bikes) in Europe to become a No.1 seller in just a year. (Read this for context: https://ilovemalaysiachinasilkroad.blogspot.my/2017/10/shame-on-you-europeans-cant-compete-you.html)
I Love Malaysia-China Silk Road would sincerely advice Europe and the US to stop wasting time on geo-politics and waging war all over the globe and concentrate on striving for excellence in production and technology.
Here’s the CNBC.com report for the details:
"Oil will crash to $10 a barrel with electric vehicle revolution, strategist says
· Chris Watling, chief executive of Longview Economics, acknowledged that a key catalyst for the oil market would most likely be Saudi Aramco's initial public offering (IPO) in the second half of next year.
· And when he was asked about Saudi Arabia's state oil group being launched on the international stock market, he replied, "Well I think they need to get it away quick before oil goes to $10 (per barrel)."
· Over the long term "what happens with electric vehicles is really, really important" given that around 70 percent of oil is used for transportation, he added.
Sam Meredith | @smeredith19
Published 7:06 AM ET Fri, 13 Oct 2017CNBC.com
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| Why the oil price will plummet to $10, according to one strategist 4:59 AM ET Fri, 13 Oct 2017 | 03:14 |
When looking ahead to 2018, Watling acknowledged that a key catalyst for the oil market would most likely be Saudi Aramco's initial public offering (IPO) in the second half of next year. And when he was asked about Saudi Arabia's state oil group being launched on the international stock market, he replied, "Well I think they need to get it away quick before oil goes to $10 (per barrel)."
While Watling explained that he did not necessarily expect such an intense decline in oil prices over the coming weeks or months, he did argue that over the long term "what happens with electric vehicles is really, really important" given that around 70 percent of oil is used for transportation.
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| Heinz-Peter Bader | Reuters Saudi Arabia's Energy Minister Khalid al-Falih talks to journalists during a meeting of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, November 30, 2016. |
The Longview Economics CEO forecast the price of oil would ultimately slump to $10 a barrel over the next six to eight years.
OPEC optimistic oil market rebalancing
On Thursday, the International Energy Agency (IEA) said the global outlook for oil markets in 2018 could put a dampener on hopes for higher prices. In its closely-watched report, the IEA said global stock builds, rising non-OPEC production and static oil demand could weigh on the oil price.
The IEA's latest monthly report was published amid optimistic forecasts from the major oil producer group OPEC, with the cartel arguing there was evidence of the global oil market rebalancing following several years of low prices.
The price of oil collapsed from almost $120 a barrel in June 2014 due to weak demand, a strong dollar and booming U.S. shale production. OPEC's reluctance to cut output was also seen as a key reason behind the fall. But, the oil cartel soon moved to curb production — along with other oil producing nations — in late 2016.
Brent crude traded at around $57.39 a barrel Friday morning, up 2 percent, while U.S. crude was around $51.50 a barrel, up 1.8 percent."
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| Here comes the EV avalanche ... Insight: why demand from China is spurring growth of electric car sales The take-up of electric cars in Europe and the US remains a trickle, but China’s push towards electrification is set to unleash a flood of new models over the next few years   by Jim Holder 5 July 2017 The incentives to buy an electric car in the UK may have been reduced, but more and more people are still making the switch away from conventionally powered vehicles. So far this year, sales of ‘alternatively fuelled’ vehicles have accounted for around 4% of all new car registrations. Britain is western Europe’s third-largest market for electrified cars, behind the Netherlands and Norway, where incentives are substantial, but the global trend tells a similar story … for more, go to https://www.autocar.co.uk/car-news/new-cars/insight-why-demand-china-spurring-growth-electric-car-sales |
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