Electrification Is the Real Energy Hedge—and China Knows It

Every time oil prices rise, Europe falls into the same familiar cycle. Politicians promise relief, analysts debate OPEC strategy, governments consider subsidies, and consumers prepare for higher transport and heating costs. It is a ritual of crisis management that assumes one thing above all else: oil will remain central, and Europe’s role is simply to cope with the consequences. China is taking a different approach. Rather than endlessly managing fossil-fuel volatility, it is steadily reducing...