RE:Understanding the Future of Fossil Fuel Consumption Wonderful post Nukester! I could not agree with you more.
The tipping point of when EV's will have a big impact on the use of oil for internal combustion engine cars is likely 15 years or so away. While EV sales are growing rapidly, the base is pretty low.
Not to mention that 40% of global oil demand is from lifestyle and that nobody willl want to decrease their standard of living.
I think its in the following interview with Jeremy Grantham where it is said that Norway is consuming more oil today than ever before even though the adoption rate of EV's is the highest in the world.
This interview, from July 28 of this year is worth listening to:
https://youtu.be/OCUeKnAQVjc
Lack of oil supply from a lack of investment that started back in 2014 is the issue and let us not forget that oil demand is still increasing by about 1 million bbl/day per year and is expected to peak out only in about 15 years.
I don't understand why investors are not seeing this. It is as plain as day.
Very good post Nukester!