Comment Comment by thelastgallon Global oil prices haven't skyrocketed so far thanks to China inverting the OPEC strategy of keeping prices up by destroying supply.China stopped/reduced buying, used their large reserves, EVs and now accelerating EV trucks. And also coal to liquids.Eventually, China may have to start buying and thats when the fun begins.https://www.nytimes.com/2026/09/17/business/energy-environme...https://oilprice.com/Energy/Coal/Chinas-Renewable-Boom-Masks...China is now the world’s great oil power. Forget OPEC. The Chinese Communist Party calls the shots. https://news.ycombinator.com/item?id=49238158 parent thelastgallon 1 month ago
China stopped/reduced buying, used their large reserves, EVs and now accelerating EV trucks. And also coal to liquids.
Eventually, China may have to start buying and thats when the fun begins.
https://www.nytimes.com/2026/09/17/business/energy-environme...
https://oilprice.com/Energy/Coal/Chinas-Renewable-Boom-Masks...
China is now the world’s great oil power. Forget OPEC. The Chinese Communist Party calls the shots. https://news.ycombinator.com/item?id=49238158