this post was submitted on 08 Oct 2023
339 points (97.5% liked)

Technology

59206 readers
2521 users here now

This is a most excellent place for technology news and articles.

Our Rules

  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago
MODERATORS
L3s@lemmy.world
L3s@fry.gs
L4s@fry.gs
L4s@lemmy.world
enu@lemmy.world
339
World EV Sales Now Equal 18% Of World Auto Sales (cleantechnica.com)
submitted 1 year ago by boem@lemmy.world to c/technology@lemmy.world
62 comments fedilink hide all child comments
you are viewing a single comment's thread
view the rest of the comments
[–] GeekyNerdyNerd@sh.itjust.works 0 points 1 year ago* (last edited 1 year ago)

Same reason why oil prices keep going up even as demand drops, the price of oil is largely determined by OPEC+ and they will cut production until prices rise to where they want them, and the more they have to cut production the higher the prices have to be to offset their fixed costs. More oil = more total revenue = lower price floor for profits.