Oil & gas decline: Cracks where light gets in (not Canada)

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November 28, 2025

Cleantech investments outpacing fossil fuels

Trump invaded Venezuela to assert greater global dominance via subordination of the world’s oil sector, and calls climate change a hoax.

Not as well-known, there is a global green revolution is in progress.

Two-thirds of the 2024 record of $3 trillion invested in energy sources was dedicated to cleantech such as renewables, electric vehicles (EVs), grid storage (batteries) and energy efficiency.

For 2025, estimates of global investments in cleantech range from $2.3 trillion to $3.3 trillion, according to BloombergNEF and International Energy Agency (IEA) respectively.

Renewables progress to-date

In 2024, renewables captured 92% of new global power capacity, adding 518 gigawatts (GW), a 15% increase, bringing total capacity to 4.44 terawatts (TW). Asia, Europe and North America represented 85% of this achievement.

For the period 2010-2023, solar accounted for 80% of the renewables capacity increase.

Ironically, despite Trump, solar and wind were attributable to 94% of U.S. new power capacity installations in Q1 2025 plus an increase of 20% in domestic solar manufacturing. In California where gas is the principle source of power generation, gas consumption between January and August 2025 was 18% lower than for the same period in 2024. In those first 8 months of 2025, California solar generation increased 17%.

China alone consistently represents 60% of global renewable energy capacity growth.

India is aligned with its 2030 goal for 2.5 times renewables growth. This would make India the second largest market for renewable capacity expansion.

The EU renewables capacity is anticipated to amount to 71% of EU electricity generation by 2030.

On a global scale, by 2030, the International Energy Agency (IEA) 2025 annual renewable energy report foresees global renewable capacity to be 2.2 times that of 2022 levels reaching 4.6 TW.

The IEA optimistic scenario suggests 2.8 times growth is possible.

Whatever scenario prevails, it translates into renewable power capacity growing more during 2025 to 2030, than in the previous 5 years. This would be more than China, EU and Japan existing power capacity combined.

Nevertheless, this would not be enough. Global renewables investments would have to double between 2025 and 2030 to meet climate and energy targets.

EVs

For 2025. the IEA and Ember estimated EVs came in at more than 25% of the world vehicle market, 20 million units. This will likely rise to 30% in 2026. That’s a big jump from 2024, for which 20% of global vehicle sales were EVs, 17 million EVs.

This is so despite Trump and Canada’s Mark Carney being instrumental in slowing down EV sales in North America.

Of EVs manufactured in China, 95% are equipped with the more affordable lithium-iron phosphate (LFP) batteries, not requiring the expensive nickel or cobalt. The absence of cobalt addresses ethical considerations.

Other global EV manufacturers are now transitioning to LFP batteries. This is a critical development as the battery typically comes in at 40% of an EV’s cost. Those that don’t get onboard for LFP batteries could experience a “Kodak crisis.” The transition is a challenge since China now produces 99% of LFP batteries in the world.

Ford is preparing to shift to LFP batteries and Tesla is already equipping its standard range Model 3 and Model Y with LFP batteries.

Volkswagen’s battery affiliate, PowerCo, is currently considering a shift to LFP.

Yet even LFP batteries may soon be history. Sodium-ion batteries, which don’t require any critical minerals, are now market-ready. Up to 2025, sodium-ion batteries have been used for energy storage, but in 2027 China’s CATL will be able to mass produce sodium-ion batteries at a cost less than the LFP versions. EVs so-equipped will be more affordable than gas-powered vehicles and have good cold weather performance.

With advent of more attractively priced EVs, EV sales will take off as is already the case in China.

And China’s BYD is manufacturing highly attractively priced short-haul heavy duty battery electric trucks.

EVs displaced oil demand by 1.5 million barrels/day in 2024. Petroleum demand for road transportation is expected to peak in 2027. Peak passenger vehicle oil demand is projected for 2025.

For 2 and 3 wheelers, peak oil consumption has already been reached.

The exceptions are the U.S. and Canada which are not following global EV sales trends as both countries have abandoned regulations and other initiatives supporting EVs.

Oil exceeding demand

Between January and September 2025, there was an oil glut or surplus of 1.9 million barrels per day, (b/d). The glut is expected to spiral up to an untenable 4 million b/d 2026. Yet in September 2025, the supply increased by 5.6 million b/d more compared to the preceding year.

China will heavily influence global supply and demand as it represents 25% of global crude oil imports and, as of 2025, these imports peaked and started to decline.

Promising oil financial results will increasingly be harder to achieve because of a combination of oil prices at an all-time low, the least costly to exploit wells now being spent, and inflation/geopolitics.

For a profitable trajectory, the oil price/barrel must increase 5% annually, but this is not happening. The breakeven oil price is now $47, and for oil sands, $57.

Renewables displacing natural gas market

As of 2025, U.S. liquified natural gas (LNG) export terminals comprise 8 currently operating, 8 under construction and another 10 approved, but not yet under construction. In addition, the U.S. Dept. of Transportation Maritime Administration is reviewing 5 LNG export terminals.

Globally, there is a plethora of liquid natural gas (LNG) export terminals, approximately 230 are in operation or will be fully operational, within the next few years.

The gas demand side of the equation paints a different picture.

China, the world’s largest energy consumer, experienced a 24% decline in natural gas imports in 2024. Massive deployment of renewables, together with politically motivated imports of Russian gas are behind this.

Japan, Europe and South Korea, which represent half of the world’s natural gas imports, are likely to undergo a 20% drop in LNG use by 2030.

Japan’s gas consumption has dipped 20% since 2018, peaked in 2024, and has since dipped 25% as a consequence of the recommissioning of nuclear capacity.

Japan resells more imported LNG than it uses, 40% of its imports, due to greater domestic renewables and nuclear capacity. But with declining markets for natural gas, import markets being oversupplied and low prices prevailing, this economic direction is now considered high risk.

For the EU, which is entirely dependent on imports for gas supplies, gas consumption dropped by 20% between 2021 and 2024, likely peaked in 2024. By 2030, based on 2024 levels, EU gas use may drop another 29% by 2030, and 67% by 2040.

The U.K., Germany and Chile reduced imports of gas and coal by 1/3 since 2010.

In the U.K., electricity generated by imported fossil fuels dropped from 45% to 25% in the last 10 years.

Bulgaria, Romania and Finland, formerly dependent on gas imports from Russia, have reduced gas imports nearly to zero.

Denmark has cut fossil fuel imports more than half.

Japanese LNG consumption peaked in 2014 after the Fukushima catastrophe,

In India, only 2% of power capacity stems from natural gas. The 32% of power generation from natural gas did not produce any electricity. Consequently, 8% of India’s gas-fired power supplies have become stranded assets.

Pakistan, once a gleam in the eye of LNG exporters, has halted to LNG projects. Pakistan has engaged in a radical transition to renewables. During the last two years Pakistan installed 40 GW of solar. This is extraordinary since its entire power generation capacity in 2023 was 46 GW.

Pakistan now has enough distributed solar power potential to meet all of its needs, including those of isolated communities. Distributed energy now furnishes more energy to the country than power from the grid.

China leading the way

China’s $942 billion investments in cleantech in 2024, was not far off from global fossil fuel investments in that year, $1.2 trillion. If the value of cleantech production and services are included in China’s cleantech thrusts, it comes to $1.9 trillion in 2024, or 10% of China GDP.

In 2025, up to July, China’s cleantech export earnings were $120 billion, an amount which exceeded the U.S. earnings on fossil fuel exports , $80 billion. For 2024, earnings from China’s cleantech exports were $180 billion, and U.S. fossil fuel exports, $150 billion.

And, with critical minerals being the pillars of a green transition, it’s hard to keep up China’s green transition. In this regard, China is the world’s top refiner for 19 of the 20 top minerals and on average accounts 70% of refining market share.

China produces 80% of world solar PV modules and battery cells.

By the end of April 2025, China had 2.02 TW of installed renewables capacity, up from 1.83 TW reached in 2024.

As well, the impressive Chinese cleantech portrait includes 70% of global EV sales and 40% global EV exports. China’s EVs came in at 54% of domestic EV market share in 2025.

On public transportation, China had 48,000 km of high-speed rail at the end of 2024 and will add another 12,000 km by 2030, 50 subway systems with over 10,000 km of track, substantial light rail and had 542,600 e-buses, 84% pure electric, on its roads in 2022.

Heat pumps are massively being deployed in China, replacing coal for household heating.

The cumulative global impacts of these changes are phenomenal.

The result is China is single-handedly reducing global prices of cleantech, EVs and energy storage, thus changing global energy and economic paradigms.

Trump’s enemy within and Canada’s capitulation to fossil fuel sector

The Trump administration views cleantech as an enemy within.

However, the U.S. business community must plan for competitiveness in the global green economy now. They cannot afford to delay a catch up after Trump becomes history.

Because the cleantech manufacturing in the U.S. entails commitments of billions to the green revolution, it cannot be reversed. The timelines for construction of new manufacturing plants are measured in years, and supply contracts can span 5 years.

It is Canada that will be the big loser.

Canada’s “national interest” projects are exempt from other existing legislation, according to Law C-5 and supported by Budget 2025. National interest projects announced so far include the following:

On November 27, 2025 a Memorandum of Understanding (MOU) was signed between Prime Minister Mark Carney and Alberta Premier Danielle Smith, for a new oil pipeline from Alberta to the British Columbia (BC) coast, even though the Canadian government-owned Trans Mountain pipeline from Alberta to the BC coast operates under capacity, cost C$50 billion in subsidies plus Canadian taxpayers contribute C$3 billion/year to operate it.

BC opposes the pipeline.

On December 2, 2025, at a meeting of the Assembly of First Nations in Ottawa, a resolution was adopted objecting to the new pipeline. One should expect other protests to come from First Nations.

The hope is not strong for private industry promoters to step up to the plate.

The MOU also comprises:

Abolition of the regulation not permitting oil tankers along the BC coast: At the December 2 Assembly of First Nations meeting, there was an unanimous rejection of ending the moratorium on tankers floating on BC coasts.

Weakening the Alberta the industrial carbon price, the Output-base Compliance System, that is supposed to increase the industrial carbon price per tonne from C$95 now, to up to $170 by 2030: Under the MOU, the parties will review a proposed on a carbon price of C$130/tonne on or before April 1, 2026.

An Alberta waiver from the clean electricity regulations that set limits on carbon dioxide pollution from almost all electricity generation sources, targeting fossil fuels: The regulations provide a mix of compliance flexibilities and do not prescribe specific technological solutions. The MOU exemption, strictly for Alberta, may translate into weakening of Alberta’s agenda to phase out coal-fired electrical generation. This is nice since Alberta placed a 7-month moratorium on permits for wind energy projects ending February 2025. Nearly half of the projects that were to go ahead before the moratorium have not been placed back on the table.

While both the clean energy regulation and industrial carbon price policies were carved out for Alberta, other provinces would ask for similar treatment.

The abolition of the cap on oil and gas emissions by 2030: The cap would have allowed a 16% increase in oil and gas production by 2030-32, relative to 2019. This magic would be achieved with the application of carbon capture utilization and storage (CCUS) which would supposedly result in a 35% GHG reduction by 2030, based on 2019 levels. Yet not a single CCUS project has met goals for emissions reduction, costs and timelines.

For the new pipeline, Alberta must support the CCUS project of the Pathways Alliance, an Alliance of the 6 major oilsands producers:

An extension of the timeline on methane reduction, strictly carved out for Alberta.

Support for nuclear power in Alberta.

This MOU is a gift from heaven to Paul St-Pierre Plamondon the populist ethnocentric anti-immigrant leader of the Quebec independence party, Parti-Québecois (PQ). St-Pierre Plamondon rejects being associated with a fossil fuel state. He considers federalism to be a malicious ideology. The PQ is in first place in the polls for the upcoming Quebec election around October 2026.

Steven Guilbeault, former minister of Environment and Climate Change Canada, afterwards minister of Canadian identity and culture, has resigned as a cabinet minister.

Other national interest projects are presented below:

1) Phase II of the LNG Canada export terminal on the BC Pacific coast;

2) construction of 4 small modular reactors (SMRs) at the Darlington Ontario site, despite SMRs being an unproven technology with poor economies of scale, such that a SMR cost is 5 times the cost of renewables to produce 1 GW of energy;

3) removal of a cap on oil and gas emissions irrespective of the above-mentioned MOU;

4) Pathways Alliance federal support, for a $16.5 billion project, whether or not there is a new oil pipeline;

5) less stringent greenwashing clause in the Competition Act, a regulation that had required companies backup their present and future emission reduction claims, and;

6) the Ksi Lisims Pacific coast offshore LNG project with the terminal to be constructed in South Korea and despite Indigenous opposition to the 800-kilometre Prince Rupert Gas Transmission to transport gas from the northeast BC northwest-Alberta northeast border.

Additional “national interest” projects concern critical minerals, a small northern Canada hydro-electric initiative and a possible BC north coast transmission project. The smorgasbord of projects constitute climate minuses cancelling out the few pluses.

In September 2025, Prime Minister Mark Carney “paused” the 20% for 2026 zero emission vehicle (ZEV) mandate. The mandate refers to the percentage of ZEV vehicles each manufacturer must sell in a given year. It had been set for 20% for 2026.

A July 24, 2023 announcement by the former Minister of the environment on the termination of fossil fuel subsidies had so many exemptions, it changed nothing.

The takeaway

To sum up, the oil and gas market will decline, while supply will go up.

The transition to cleantech is unstoppable because of the attractiveness of low prices and energy security that comes with reducing reliance on foreign fossil fuel imports.

Add to that, two-thirds of fossil fuel energy consumed is wasted, or does not contribute to the intended tasks.

Private sector and general public consumers will make the transition to clean solutions when there are price, choice and environmental advantages at the outset. These transition attributes are enhanced by the absence of the volatility lottery of fossil fuel prices.

Many COP30 participating nations, subnational governments, cities, the European Parliament and others that want a roadmap for phasing out fossil fuel are planning the First International Conference on the Just Transition Away from Fossil Fuels, April 28-29, in Colombia. This would leave the fossil fuel export nations out in the cold, while preempting blockage of a phase out roadmap.

As for Canada, the “national interest” projects, especially the federal-Alberta governments’ MOU, are mainly fossil fuel initiatives that head Canada towards stranded assets and national disunity.

Economic and environmental policies among most fossil fuel importing countries are aligned for a global green transition. The remaining nations will have to go with the flow.

“Drill, baby drill” Trump will flop

By

Will Dubitsky

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March 6, 2025

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Flop Cheniere Energy LNG export terminal FT-AA528_LNG_SOC_20181128221004 — LNG export terminal

Introduction

The current oil and gas gluts and planned expansion projects will hit walls as demand around the world for fossil fuels is already on trajectories to decline.

China, the largest importer of fossil fuels, is engaged in a transition to a green economy at such a humongous pace, it is difficult to keep up with developments.

Too, China’s affordable electric vehicle (EV) global sales are on launching pads to take the world by a storm, leaving the U.S. to become a dinosaur.

U.S domestic power trends favour renewables over natural gas.

South and Southeast Asia, perceived by the liquified natural gas (LNG) industry as the next hot markets, are turning to renewables.

Lastly, Europe, South Korea and Japan, half the global LNG market, are engaged in a transition away from fossil fuels.

Fossil fuels glut

Oil

According to the International Energy Agency, oil production will outstrip demand from now until at least 2030. Two principal factors point in this direction.

First, growth in oil demand in Asia, aviation and petrochemicals will be more than offset by a decline in demand associated with transportation sector electrification and better fuel efficiency plus the climate action of critical fossil fuel importing jurisdictions, most notably in China and Europe, along with other countries. More on the climate achievements and momentum of these jurisdictions follow in subsequent article segments.

Second, Guyana, Brazil and Argentina are increasing their supplies to global markets.

Hence, Trump is his worst enemy by encouraging expansion of U.S. oil production.

This could be exacerbated by a pending price war with Saudi Arabia.

For the U.S., the bottom line is the oversupply has contributed to the current price of oil, around $70/barrel, too low for U.S. expansion. The U.S. oil industry is hesitant to expand, and more focused on shareholder returns.

For U.S. oil production to expand, the price must rise to $80 or more, becoming more unlikely due to the indefinitely long global glut.

Natural Gas

There’s already a natural gas glut, as per the conclusions of the for Institute Energy Economics and Financial Analysis (IEEFA). This glut will get much worse, very much the result of the U.S. massive natural gas expansion projects.

Globally, the LNG supply capacity may increase to 666.5 million tonnes per annum (MTPA) by 2028. That’s greater than the IEA assessment of demand prospects for 2050, 482 MTPA.

The U.S has about 20 new LNG project terminal projects, with 4,667 km of pipelines. If pending applications are combined with the 360 MTPA of approved projects and added to current production, the U.S. would be on a path to produced 430 MTPA of natural gas, by 2029 to 2035.

This would far exceed the current global capacity of 400 MTPA.

The U.S. expansion projects and the European gas import substitutes, post Russian invasion of Ukraine, have driven up the international price of natural gas and U.S. domestic power rates as a side-effect.

In January 2024, Biden had tried to put a temporary pause on pending LNG-related projects. One year later, in January 2025, Trump ordered resuming reviewal of applications for pending projects.

Trump chose to ignore the implications of increasing U.S. gas exports.

Even current capacity alone indicates there will be costly stranded assets before 2030. Quite the risks, given the price tags of large export terminals are $15 to $25 billion, the lifespan of a export terminal is 30 to 50 years, and import terminals cost around $3 billion.

There are also the obstacles to the financing of long timelines for building LNG related infrastructures. Terminal construction can take from just under 4 to 5.1 years.

For an idea of the expenditures for pipelines, 13 of them adds up to more than $62 billion.

Further, the poor economics of the U.S. natural gas sector demise is already evident. While U.S. natural gas supplies are 78% shale gas, 30% to 40% being by-products from shale oil sites, the more productive/profitable shale U.S. oil and gas wells have been depleted. Since shale gas wells have a productive life duration of 3 years, the industry looks like its heading for another financial conundrum, a repeat of the shale industry meltdown in early 2020s.

Swelling the global supply situation, Norway, Russia, Congo, Gabon, Nigeria, and potentially Mozambique and Tanzania, are, and/or my soon be, contributing to more gas supplies on global markets.

The gas export stakeholders continue to pin hopes for larger LNG supplies to supply new markets in South and Southeast Asia, To serve the power needs of these markets, home-grown renewables projects are the better options since they are relatively inexpensive, and construction timelines are short.

Significant, China has its own shale gas potential. Together with China’s goal severance from fossil fuels dependencies, this will lessen the need for LNG imports. It is estimated that China has 31.57 trillion cubic metres (1,115 trillion cubic feet) of recoverable shale gas.

Eventually, the global gas oversupply bottom line will lead to lower prices, something that threatens the viability of the U.S. shale gas sector. These lower prices will likely last for quite some time.

Green transition is well-underway

China’s oil and gas imports decline

China, the world’s largest energy consumer, representing 25% of global oil imports and 18% of global LNG imports, is weaning off oil and gas at spellbinding rates.

China is the most electrified nation in the world and the pace of electrification continues to spiral.

No wonder, the peaks of China’s crude oil consumption and refined oil are 2025 and were 2023 respectively. Crude oil imports declined 2% in January 2025. By 2035, China’s refined oil products consumption is projected to drop 25-40%, based on the peak year 2023.

On natural gas, though China is the largest importer of gas in the world, consumption and emissions are destined to drop through to 2030, because gas is more expensive than coal and not green; wind and solar total capacity to-date have exceeded China’s target; coal capacity is used primarily for peaking periods; there has been a shift to supercritical coal power plants with less emissions than traditional coal facilities; and, most important, China has an overarching goal for a peak emissions deadline with an emphasis on energy independence.

China’s EVs domestic and global market expansion:

In 2024, China’s affordable and advanced tech EVs captured 60% of the global EV market, 53% of its domestic vehicle market.

Chinese EV manufacturers are now poised to conquer ALL major global markets outside North America. The BYD momentum to-date entails manufacturing plants and projects in 7 countries and entering a new country nearly every week, with an average selling price of $16,700.

Concurrently, legacy automakers, for which China is a major market, are losing market share in the country, because they cannot compete with China’s EV’s which have better designs, prices and technologies.

The EV Trump effect

The Trump administration wants to stop attacks on gas-powered vehicles

Contributing to the demise of North American-based legacy automakers, Trump’s plan is to roll back corporate average fuel economy standards from the 2025 level to that of 2019.

The reversal on vehicle emissions will result in 25% more emissions/vehicle mile than current 2025 rules and an average fuel economy dip of 15%. The brakes have been put on the transition to EVs.

The Trump package would also prohibit California and 13 other waiver states to adopt stricter emission rules than those of the federal government, beginning 2026. During his first term, Trump had blocked waivers of the previous administration, but the Biden unblocked this restriction.

As for Musk, he believes the termination of EV consumer credit will hurt Tesla’s competitors more than Tesla. Ford claims it loses $100,000 per EV sold and EV-related 2024 loses will be well over $5 billion.

Accordingly, the Trump administration has sent clear signals to legacy automakers in U.S market to change priorities to favour lineups of more of the more profitable gas guzzlers.

The U.S. EV market share will not come close to the Bloomberg projection of 13% for 2024 or the IEA prediction of 11%.

EVs, the U.S. aside

Notwithstanding Trump’s undermining the EV sector in the U.S., by 2030, the global EV fleet will displace 3.3 million b/d (b/d) by 2030, up from 385,000 b/d in 2022.

China, renewables and keeping pace with rising electricity demand

China’s renewables have reached 50% its power supply with the installation of 357 GW of solar and wind in 2024, an 18% increase from the previous year.

The result is China’s renewables target for 1.2 TW by 2030 was reached in 2024, 6 years ahead of schedule.

Yet these achievements have not been enough since China’s electricity demand has risen faster than the economic growth since 2020. The country’s electricity demand increased 7% in 2024, and the forecast is for an annual average of 6% through to 2027. In addition to the electricity consumption growth associated with the manufacturing of clean tech and energy intensive industrial sectors, there are new phenomena, such as the latest highs in consumption for air conditioning and 5G networks.

The U.S and renewables

Most inconsistent with Trump’s view for America, 93% of 2024 power capacity additions stemmed from clean energy. U.S. solar set a record in 2024, at 30 gigawatts (GW), accounting for 61% of U.S. utility scale power capacity additions for the year.

And the U.S. Energy Information Administration (EIA) predicts 2025 solar new capacity will reach 32.5 GW. That’s far less than the 2025 EIA projection for gas at 4.4 GW of added annual capacity and lower than wind for this year at 7.7 GW.

U.S. solar additions combined with energy storage, will come to 81% of U.S. of 2025 capacity additions.

Interesting, Texas is the U.S. windpower leader and its solar sector is booming, 11.6 GW estimated for 2025.

The other 50% of global LNG markets

Elsewhere, the combined LNG imports of Japan, Europe and South Korea, which account for half of LNG demand, declined in 2023. The descent is expected to continue through to 2030.

European gas imports were down 20% in 2024 and consumption is expected to peak in 2025. EU gas imports trajectory is expected to continue to decline through to 2030.

Japan previously the world’s largest LNG importer, is another country where imports of gas are descending, 8% in 2023, another 9% in 2024. Increases in nuclear and renewables capacity will assure continuation of the gas use tumble. Since 2018, LNG imports fell 20%.

For South Korea, traditionally the largest importer of U.S. LNG, imports dropped 5% in 2023. With the planned increases in solar, wind and nuclear capacity, by 2035, LNG imports may drop by 20%.

In Southeast Asia, LNG projects are on pause with significant transitions to renewables underway, especially in Vietnam and the Philippines.

In South Asia, Pakistan proclaimed a halt to LNG projects while engaging in a radical transition to renewables. During the last two years Pakistan installed 40 GW of solar, extraordinary since its entire power generation capacity in 2023 was 46 GW. This profound departure from past energy policies may soon get a big boost, to the tune of $1billion in climate funds, from the International Monetary Fund.

India, like Pakistan, has no plans for plans for new LNG plants.

This spells trouble for U.S. export contracts which typically integrate flexibility for the termination of shipments.

In Canada, most of the LNG projects have been shelved, the results of high cost for terminal construction and pipelines along with public political opposition to new projects.

The takeaway

It is clear that the current oil and gas gluts will get worse with demand for fossil fuels at the precipice of a global decline.

China alone, the world’s largest energy consumer, is engaged in a mindboggling rate of electrification and decarbonization of its economy. This will significantly reduce global fossil fuel demand, peak oil has already been reached and peak gas very soon.

China’s affordable EVs are penetrating global markets, leaving the U.S., and probably Canada, way behind in road transportation. Road transportation traditionally represents 25% of petroleum consumption.

Renewables around the globe are displacing natural gas demand.

This is even happening in the U.S, where 93% of new capacity in 2024 was attributable to renewables. Solar and energy storage combined, will come in at over 80% of power additions in 2025.

South and Southeast Asia emerging economies are engaged in a transition to renewables. Thus the prospects for bets on the LNG industry exports are fiction.

Ditto for South Korea LNG demand.

The European momentum on renewables, EVs, heat pumps and other decarbonization measures, are unstoppable.

Better technology at better prices are globally agnostic, as such, cannot be stopped by the phantasms of the President of the U.S.

The world is already engaged in the energy transition and all the new economic paradigms that go with it.

The Trump drill baby drill objective will flop globally and domestically.

China: Largest emitter to green gamechanger, but…

By

Will Dubitsky

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July 4, 2022

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China climate emergency global influence

China is several years ahead of other developed countries on the migration to a green economy, in clean technology production capacity, massive market penetration and green investments. China already has an extraordinary global green export potential. China leads in renewables, electric vehicles and battery production, incrementally regulating plastic solutions, high-speed rail, private clean tech investment, government environmental support and green bonds. China’s concurrent climate actions are gamechangers destined to have huge global competition impacts on energy, economic, transportation, industrial and other paradigms, perhaps more so than the climate crisis. But there are simultaneous contradictions. China is the world’s largest liquified natural gas importer, once again ramping up coal production and certainly not a leader on human rights.

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