This is supposedly also one of the reasons UAE is leaving opec. They think that we are close to peak oil and so they've been increasing their capacity to well beyond what opec allows them to export and are now going to focus on pumping out as much oil as they can while there's still demand.
Oil may be valuable stuff, but nothing compels competing energy sources to be more expensive, and the cheapest oil fields were developed first, with a few exceptions. The optimists who want to develop oil fields beneath 3km of water are IMO unlikely to sell at a price that covers their costs.
I like the alliteration but the article is trying to pitch a dichotomy where one need not exist. China is a good example of classical fascism with 21st century characteristics and according to the article it's working great for them.
Oil is valuable stuff. We are going to use every last drop of it. What comes next after that is going to be very interesting.
Lovely.