Gas prices soar.... and if you live in Asia, you buy an Electric Vehicle.
China's EV sales just jumped to a record 66.7% in the first week of June - "the Middle East conflict has given Chinese EV makers an unexpected shot in the arm," as one Shanghai analyst put it. South China Morning PostSouth China Morning Post
And this isn't a blip. Over a quarter of cars sold globally in 2026 will be electric - up from 9% just five years ago. And it's not just China anymore. Nearly half of all cars sold in Singapore in 2025 were electric. Vietnam hit 39%. Thailand, 27%. Turkey's EV sales more than doubled in a single year, driven partly by a straightforward desire for oil-import independence.
Europe's not far behind, with one in three cars sold expected to be electric in 2026. BloombergNEF + 3
What this war has really taught us is that oil comes with a rider - and it's not the red M&Ms kind - it's the sanctions, risk of a coup, "the Strait of Hormuz is closed again" kind.
In other words, too much dependence on OIL IS RISKY - especially if you live in Asia and get it from the Middle East.
Which is why I'm curious to see what happens with the newly proposed Pipeline in Canada - the one major Oil producing Nation that doesn't come with that risk.
But guess what? Private companies don't want to fund it. Why? Well, in part, because the Asian Nations it's being built to serve are buying EVs and creating Renewable energy projects to wean themselves off oil...
So who's going to pay for it? The Canadian taxpayer.
Which again shows the risk of too much dependence on oil. First it shows up as a war. Then as an EV chart in Shenzhen. Then as a bill nobody in Canada agreed to.
And I have to say... I'm kinda happy EVERYONE is starting to feel the burn.
Because it ultimately boils down to more EVs. More solar. More wind. Not because everyone's suddenly in love with Greta Thunberg, but because the sun doesn't have a civil war and wind doesn't get sanctioned.
Which says to me, there's stability in leaning on Momma Earth and the systems she has built over the last few billion years.
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