On March 5^th, the fifth session of the Sinopec Capital Forum was held. Chairman Huang Wensheng of Sinopec Capital gave a lecture titled The Future is Here, analyzing and envisioning the future transformation of energy industry and development of new energy vehicles.

Huang stated that energy production and consumption will be transformed towards green, low-carbon, clean, safe, efficient, and sustainable paths. As the main method to use fossil energy, burning, by nature, features low utilization efficiency due to the constraints of the second law of thermodynamics, called the “Carnot cycle.” Therefore, electrification is a core method to boost energy efficiency. He also laid out his visions on future ways of transportation and the development of new energy vehicles.