RE:RE:A must watch video for every investor IMOI agree with your line of thinking on this.
I wonder if oil demand will be sort of like employment. No matter how many jobs become obsolete employment stays high as new categories of work emerge.
I could see oil demand going down in the west while increase dramatically in developing countries.
It is sadly a bit ironic that worldwide coal usage is at an all-time high right now – after decades of knowing how toxic it is. The west transitioned from coal to oil in a natural progression.
We human beings are hopelessly dependant on hydrocarbons. Its doubtful people will want to go back to ploughing the field with a horse. Plus no one can agree on anything anymore so I wonder how truly decisive any climate action will end up being? Leonardo DiCaprio is a hard core environmentalist who still makes a hard line when it comes to giving up private jets. He's just typical.
Germany is possibly the world’s poster child for ESG though isn’t Germany, and the UK, looking a lot weaker lately? I would never discount the resourcefulness of Germans nor the English though their pain may give some people some pause from running away from hydrocarbon.