China Could Emerge a Winner from Trump’s Energy Shock

“As the threat of strikes by Iran forces oil tankers destined for Asia to idle in the Persian Gulf, some top Republicans have declared an economic victory against a rival super power,” the Washington Post reports.

Said Sen. Lindsey Graham (R-SC): “This is China’s nightmare.”

“But the disruption caused by the war on Iran may reveal a different story about China: that years spent preparing for a global energy crisis have left the country and its economy better positioned than most to endure a long-term hike in the cost of oil and gas.”

“Through massive stockpiles of crude oil, an aggressive push into electric vehicles and huge investments into coal, renewable power and battery storage, Beijing has worked to insulate its economy from future oil shortages that once would have been crippling.”