As oil prices climbed past $100 a barrel for the first time in four years, OCBC analysts said China may be “less sensitive to a prolonged closure of the Strait of Hormuz than many of its Asian peers.”
“China has accumulated one of the world’s largest strategic and commercial crude reserves,” the analysts said, adding that its “rapid transition toward electric vehicles and renewable energy provides an additional structural hedge.”
I fully agree. The only thing to add is that a lot of the economic issues are due to the type of reactors used. The new designs could be a lot more economical. Unfortunately they get buried under the same red tape as the old bomb factory designs.
I suspect we won’t see a lot of them used until after fusion power renders them redundant.