RE:RE:RE:Shorts are still a drag and Newalta is at 34% short volume if you go back over the past couple decades, one can find endless articles about "nevers" that were never supposed to happen or re-happen with oil; I don't think much has changed in 2017 but the pushing narrative for electric cars has been far more intense.
Right now, EVs are not accepted by consumers and have failing targets, even in Ontario where they are heavily subsidized. EVs are a downgrade from gasoline so it is hard for me to envision them surpassing gasoline fed vehicles as long as they are a substandard product.
Anyways, I think 2-years is a good target for oil returns. We can re-evaulate in 2-years what the future of oil looks like, but my anticipation is that it will be very strong and in supply shortage by 2020, mostly due to all these scare tactics being used, such as EV propaganda.