OPEC: The global electrification process has underestimated the importance of oil
2026-11-09 19:11:29
According to CoinMeta, and as reported by the Turkish Anadolu Agency, OPEC stated that global electricity demand will continue to grow in the coming decades, but other forms of energy will also be indispensable. Current discussions about the "electrification of everything" overlook the interdependence between electricity and oil. Electrification requires a large number of devices, cables, and charging facilities, the manufacturing, transportation, and maintenance of which all depend on petroleum and petrochemical products. For example, medium-sized electric vehicles may contain 45% more plastic and polymer composite materials than fuel-powered vehicles of the same size; wind turbines account for about 15% of their weight from petroleum-derived materials, and this proportion is around 10% for crystalline silicon solar panels. In addition, the construction of power grids and renewable energy facilities also cannot do without petroleum-derived products. Various forms of energy are not in a zero-sum relationship where one increases at the expense of another. Meeting global energy demands, alleviating energy poverty, and ensuring energy security require the combined efforts of multiple energy sources. The future should be an "era of all energies," rather than a mere "era of electricity."
Source:Jin10 Data
This content is for market information only and does not constitute investment advice.
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