US CRUDE oil production lead global oil production for a sixth straight year, with a record breaking average production of 12.9 million barrels per day (bpd), the Energy Information Administration (EIA) said in a release on Monday (Mar 11). Read more at The Business Times.
We are building renewable energy at a really high pace and also quickly increasing the numbers of EVs being sold vs ICEs. But we still need oil in the meantime and it’s better to produce our own and be as energy independent as possible.
US is actually a large fossil fuel exporter. i.e., it’s less about energy independence, more about corporate profit.
https://heatmap.news/sparks/america-has-never-exported-so-much-oil-and-gas
We are also making renewable energy at 1/3 of the rate of China.
Context is important though. The reason that the US is now such a huge fuel exporter is because of oil crises in the past. The government realized how dependent the US is on oil and handed out huge subsidies and land grants to produce its own oil and not be dependent on other, not so friendly countries. The side effect of all that production is now huge corporate profit from the excess production.
I don’t disagree, there was a time the objective of the policy was understandable. Then the big corporations came in and everything went down hill fast. smh
Do you think we’re going to stop using fossil fuels and switch to renewables? Or do you think we’ll just use both and increase our power demands?
Yeah wake me up when they let a single chinese EV get imported for sale or let go of military control in a single OPEC country that they totally aren’t holding because of funni petrodollar
Polestar is a Chinese-owned brand and is available in the US. Chinese cars in general aren’t popular in the US, though. When every other major brand has their own EV available in the US, it’s not like the consumer is hurting for choice. Just affordability.
Polestar is Swedish, not Chinese.
Polestar is a subsidiary of Volvo Cars. Volvo Cars was bought by Geely in 2010, a private Holding Group owned by Li Shufu, a chinese billionaire.
Li Shufu is also the chairman of Volvo Cars.
Polestar was founded and headquartered in Sweden, so it is a swedish company but it is owned by Geely/Li Shufu.
Polestar is owned by Volvo, who themselves are owned by Geely, a Chinese company. Polestar also manufactures most of their models in Chengdu, Sichuan, China.
They are headquartered in Sweden in the same sense that TikTok is headquartered in Los Angeles.