Originally Posted by
gzsg
“Earlier this month, Chinese oil giant Sinopec made a surprise announcement that mostly flew under the radar. It's now expecting gasoline demand in China to peak this year, two years earlier than its previous outlooks.
The main culprit? The surging number of electric vehicles on the road.
As I've written previously, calling peaks is often a no-win endeavor for industry analysts.
The call will either be correct but seem obvious after the fact, or wrong and lead to years of mockery. But this isn't an analyst calling a peak; it's China's largest fuel distributor. Sinopec knows the fuel business, and more importantly, it has an interest in the business remaining robust. Saying it's all downhill from here for gasoline is quite a statement.”
This is extremely good news for future profit sharing and the air lines in general.
Electric cars are in the vertical part of the “S” curve.
The Chinese electric car isn’t the US electric car.
“Wuling Mini EV” - sells in China for about $4,500. No, I didn’t forget a “0”. New electric car under $5k.
Plenty of China developed EV’s for under $10k.
Of course, you can’t purchase these in the US. Heck, with the tax coupon, the government would be paying you to take delivery.
Lots of directions this can go and stick to the sprit of the OP. Starting with “Why can’t I use the tax credit from US Gov to buy one of these for my kid as a starter car?”
The Wuling is built in partnership with GMC. Ask yourself why you can’t easily purchase one of these EV utilitarian vehicles when the rock bottom cheapest brand new gas car available in America is currently $1800+?
https://www.nerdwallet.com/article/l...-electric-cars
https://www.wired.com/story/review-w...guang-mini-ev/
(Yeah, the China one is a POS. I’ve had lean years making <$20k/yr with no transport and took the bus; I’d have killed for a <$5k car).