Bloomberg New Energy Finance (BNEF) recently hosted a talk focusing on the intersection of Electric vehicles (EVs), oil, and geopolitics. Experts discussed how the rise of EVs is disrupting the traditional oil market and reshaping global geopolitical dynamics.
With the increasing adoption of EVs, demand for oil is expected to decline, posing challenges for oil-producing countries heavily reliant on oil revenues. This shift has the potential to alter the balance of power in global politics, as countries seek new sources of energy and navigate the transition to a renewable energy future.
The talk also highlighted the importance of strategic partnerships and collaboration between governments, industries, and technology companies to accelerate the adoption of EVs and reduce reliance on fossil fuels.
Overall, the BNEF talk shed light on the complex interplay between EVs, oil, and geopolitics, emphasizing the need for proactive measures to address the challenges and opportunities brought about by the transition to a more sustainable energy system.
Watch the video: BNEF Talk: EVs, Oil and Geopolitics
BNEF Summit San Francisco, January 30 – 31, 2024
Trade and geopolitics are closely intertwined. The supply of oil has had a profound impact on international relations, while cars have a higher share of cross-border trade than any other good. But both of these industries are facing disruption at the rise of electric vehicles. Can battery-powered cars really reshape the geopolitical status quo? And if they do, who will have leverage?
Thomas Rowlands-Rees, Head of North America Research, BloombergNEF
Keep an eye on this. We've seen the Japanese autos struggling in China and now @VW.
There are openings for VW in US EV market, particularly with more ID.4, ID. Buzz and the @Porsche Macan.
A reminder that the EV transition is a global story: https://t.co/eE6dvmHljO
— Corey Cantor🌕 (@CoreyBCantor) March 13, 2024