The U.S. may produce triple the amount of crude oil, but China is leading the global energy race because of its dominance in building up supply chains for renewable energy and electric vehicles, the chief U.S. economist for BP said.
Even as crude oil, natural gas, and coal still lead global energy, clean energy and EVs continue to rise—despite near-term economic headwinds—and that upward trajectory is unlikely to change regardless of politics and tax credits, said Michael Cohen, BP chief US economist and head of oil and refining, speaking May 13 as a keynote at the Enverus Evolve energy conference in Houston.
