02-07-2021, 08:21 AM
My thesis is that the move to green doesn't reduce demand for fossil fuels but it is obviously taking a bite out of future growth. It's actually reality and not a thesis anymore. I believe all my green UTEs are at 20% renewables and it happened twice as fast as most projected.
IMO EV is not an immediate threat to oil demand. Auto manufacturers are just now getting serious about EV. World politics are going to make it happen and they don't care if the financial math works yet.
If oil producers don't grow production going forward it looks like a profitable business for decades. There might even be a price spike soon. Just what they need to justify ramping up EV investment.
IMO EV is not an immediate threat to oil demand. Auto manufacturers are just now getting serious about EV. World politics are going to make it happen and they don't care if the financial math works yet.
If oil producers don't grow production going forward it looks like a profitable business for decades. There might even be a price spike soon. Just what they need to justify ramping up EV investment.