China Big Oil Investors Shrug Off Future Fossil-Fuel Vehicle Ban
- China said it may end production, sales of oil-fueled vehicles
- Shares in biggest oil explorers unmoved by potential ban
The Factors Driving Electric Vehicles Forward
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The prospect of China banning fossil fuel-powered vehicles is failing to alarm investors in the oil producers likely to lose out.
Shares in the listed units of China’s biggest oil companies -- PetroChina Co., Cnooc Ltd. and China Petroleum & Chemical Corp. -- barely budged after the government said it’s working on a timetable to end production and sales of vehicles that run on gasoline, diesel and other fossil fuels. By contrast, electric car producers and the companies that supply their components surged.