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EVs and renewables might account for reduced oil price.


Renewables are a quarter of electricity generation now, and in some states are the majority of generation. They're also a decent chunk of all energy though that number's harder to pin down.

GDP is no longer tied to fuel consumption. You can't fight near-free "fuel" and near-zero opex, the renewables slice is only going to increase. I wouldn't trust any metric or rule of thumb tied to coal/oil/gas prices any longer.


EVs appear (to this midwesterner) to be in the noise. Renewables though…


Chinese oil imports are down in 2024 and 2025. It's not a big drop, but it's real. And for commodities, small changes can swing prices significantly.

butchered quote: 99 buyers, 100 sellers: price goes down, 101 buyers, 100 sellers: price goes up.




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