Clean technology will make us richer and geopolitically safer and is therefore unstoppable; Strait of Malacca
Opec tells us that demand will continue to grow for decades – as if technology stands still
Not even the most dangerous Middle East crisis this century seems able to propel West Texas crude above $70 (£54) a barrel. Brent has returned to the lower end of its trading range between $70-$80, barely enough to sustain the economic models of the petrostates.
Clean technology will make us richer and geopolitically safer and is therefore unstoppable.
China is the largest importer of crude and LNG and most of it comes through the Strait of Malacca. At 1.7 miles wide at its narrowest point, the strait is the paramount choke point in world trade.
It leaves China vulnerable to a naval blockade by the US Fifth and Seventh Fleets, operating in concert with Quad navies.
Taking a detour through the Lombok Strait would not make supply much safer.
Ambrose Evans-Pritchard Telegraph 22 October 2024
https://www.telegraph.co.uk/business/2024/10/22/china-and-the-global-south-will-not-save-big-oil/
Tillbaka till Wall Street och Stockholm 23 oktober 2024
https://englundmacro.blogspot.com/2024/10/wall-street-och-stockholm-23-oktober.html
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