Comment by adabyron

The US has invested a lot of money, lives, political capital & environment to become a big oil & gas producer.

One of it's potential weapons against China is that China imports most of it's oil & gas. China also has a few easy geographical choke points to prevent it from importing gas. Solar & wind plus electrical vehicles destroy this advantage.

So China has many reasons to push in this direction while the US is doubling down on it's bet, even while other historical oil countries like Saudi Arabia are diversifying away from oil.

It should also be noted that many Chinese companies are selling at a loss or very low margin, especially the electric car companies. https://www.reuters.com/investigations/china-is-sending-its-...