this post was submitted on 26 Dec 2023

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Electric Cars Are Pushing the Age of Oil to Extinction in China (www.bloomberg.com)

submitted 10 months ago by naturalgasbad@lemmy.ca to c/worldnews@lemmy.ml

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[–] PanArab@lemmy.ml 6 points 10 months ago

It is a similar story in Saudi Arabia and many Arab countries. The oil and gas is nationally owned, and the revenues are being used to finance a massive welfare state as well as the transition away from fossil fuels.