RE:RE:RE:RE:Adoption of New TechnologyNukester..
With all due respect, I think you need to read my posts more carefully. You like many others here seem to be missing the important point of what I am saying. Perhaps I haven't been clear enough...I don't know.
Time and again I have pointed out that while the discussion here seems to be focussed on EVs and the impact on oil consumption but the story is much wider than that. It includes reduced oil consumption for various things like petrochemicals for plastics, clothing etc. It includes the use of carbon from carbon capture to significantly reduce the need for oil for asphalt, cement and other energy intensive industrial products. It includes the use of solar in building products and the rise distributed energy production right where it is actually used ( there are many companies figuring this out - the private company I have invested had a market cap of 6.5 million when I invested and now it is 100 million and I expect in 5 years it will be over 5 billion). The list goes on.
With all that said, my most important point thing is that as investors we need to put our money where we think we can get the best risk adjusted returns. With headwinds, I described above facing oil producers, to me and my investment success over the last half century is a testament to it, it is better to put your money in companies that are in industries with the wind at their back. You will make more money there with less risk and much easier. If you want to make the hard way with greater risk...go for it!!
There could be some need for oil for the next hundred years...who knows. But for sure it will be a declining business as more substitutes become available. Unless you are nimble and knowledgeable like Migraine and work as hard, I very much doubt that most people here will meet their investment objectives if they put all their eggs or heavily weight their portfolios in oil stocks.
If you you sincerely think that what I am saying is wrong then that's up to you (it's your money). Over the past century I have seen this movie many times and seen many who said something wouldn't happen and went broke because they couldn't face reality or didn't have respect for the power of change.
Some people here have talked about India. Do you know who the richest person in India is and what he does?
Well he is into solar and coal among other things like infrastructure. His solar business alone is worth 200 billion....that's India!!!