News Summary

• Juan Cole: Two-thirds of new car sales in China in the first week of June were EVs.
• Cole: In the last four years the number of EVs within the mix has soared by 14 million.
• He says gasoline prices have been running the equivalent of nearly $5 a gallon in China.
• Cole says we are witnessing the end of the Chinese gasoline car market in China, and it's not likely to get much better until 2029, the year of Peak Oil, he says.