RE:Nuttall LinkI like Nuttal as well, and certainly appreciate his perspective...
The market has made little sense as there have been so many factors in play here and so many "players" trying to influence the price....Saudi Arabia, OPEC and Russia trying to push the price up, while much of the rest of the world gov't hoping it will go down to keep inflation in check...
Whip-sawing around $2 a day, with respective energy companies following in tow.
We need Oil and Gas...plain and simple!
Lithium-Ion batteries are NOT a replacement for Oil and Gas...I don't think people really understand this...Seriously! Lithium Ion batteries "store" energy, and allow altenative sources to transport and utilize it....They are not providing energy in of themselves...the energy still has to come from a source...ie..Oil, gas, solar,hydro...The electirical infrastructure needs to create the grids and infrastructure for the future is going to take a LOT of time and money, and with the world scrambling...I'm quite happy with my oil and gas investments.
Nuttal is on the right track...he just been a little overly enthusiastic in his price predictions and timelines...He's toned it down a bit as of late in his interviews (WTI target wise)...but I do think we'll hit those levesl at some point in the next year...Tme will tell.
GLTA