Business News Asia
The push toward electric vehicles, away from internal combustion vehicles is being driven by politicians who are driving the climate agenda of globalists relentlessly.
The current situation in Ukraine supports this movement at the moment, as many essential components are used in combustion, vehicles are likely to rise further due to the sanctions imposed on Russia and then settle at a high level.
Let’s just take the example of crude oil, which had already slipped above the $100 mark this week. No combustion vehicle can run without fuel. High crude oil prices also cause fuel prices at gas stations to rise. In the U.S., fuel prices have risen as high as last seen after the 2008/2009 banking crisis. The trend is still upward with U.S. officials already announcing that the Ukraine situation will exacerbate inflation even further. Some mainstream outlets are predicting an inflation rate of 10%.
Then not forget that Russia is the largest producer of palladium and the second-largest producer of platinum, metals used in catalytic converters. Catalytic converters are installed in every combustion car to convert pollutants into supposedly harmless substances. The price of palladium has increased by almost 30% since the beginning of the Ukraine crisis. Platinum prices have increased by almost 10%.
Another metal that is used in every vehicle is aluminum. Russia is the second-largest aluminum producer after China. Therefore, aluminum prices have also climbed to an all-time high with the Ukraine situation. Aluminum prices went into the weekend at a price of $3,397.23, higher than at the time of the 2008/2009 banking crisis.
Finally, one must not forget the political side of the whole story. Russian President Putin has long been a regular visitor to the World Economic Forum and a supporter of the globalists. Moreover, one must not forget that crises are used to create distractions and impose decisions that are normally unenforceable. Therefore, in addition to current events in Ukraine, it is advisable to pay attention to what is happening in the background.
Not to mention that the news that has followed us continuously for the last two years has all of a sudden almost disappeared.