RE:RE:RE:RE:How I came to invest in oilcpeczek wrote:
I agree, but I don't think there will be a need for nearly as many as we currently have. A lot of gas station operators such as Couche-Tard are trying to transition their business model before the inevitable happens. Some countries like Norway already have the majority of their new cars being sold as electric and the vast majority of consumers switch cars every 2-3 years on a forever loan so I think the stars will align much faster than you guys personally. But still don't think it will impact the price of oil the way the oil bears are saying
Norway is an anomoly.
https://elbil.no/english/norwegian-ev-policy/ Almost 100% of their power is generated from renewables. So EVs make sense. And their govt has ensured that for now. Incentives.
Rest of world does not have access to unlimited hydroelectric power.
I believe adoption to EVs will be much more sluggish than expected.
Hybrid vehicles, with batteries and a 4-cylinder ice will be the winners over next decade.
We will still consume larger amounts of oil, but on a per capital basis, we can consume less.
And at $150wti, many households will be forced to consume less.