RE:RE:RE:RE:RE:RE:RE:Interesting Graph Regarding Gasoline Consumptionnukster...valid points - great discussion!!
This is the crux of the problem and a key to decision-making - demand destruction vs supply destruction. In terms of your points about existing known reservoirs and depletion rates vs demand, the reality is that world oil consumption has been relatively flat for the past 5 years or so (see the link below).
If Obscure is right about the "S" curve on EV adoption and you add in other things like reduction in the use of plastics and recycled things like plastics being used to make clothes etc then we may well see a reduction in world oil demand or flat with lots of known oil reserves still untapped in political jurisdictions that don't care about the environment. As Merimat pints out, in Canada, expansion and an increase in production for companies like SU depends a lot on favourable Government policies so from that perspective an investment in SU will depend on three things happening - a change in Government; the new Government actually meaningfully changing the investment climate; and SU increasing production. All can certainly happen, but there is risk that it won't happen which is a risk over and above normal business risk.
I guess I'm not saying you are wrong, but as per my theme in past posts, from a pragmatic investment perspective these are risks and the question then becomes where can I get the best risk adjusted return. My decision is that as a long term investment I can do better elsewhere and my long term investments are not in oil. On a short term basis, I do agree that there will be lots of opportunities to make money investing in oil stocks from time to time.
https://www.statista.com/statistics/271823/global-crude-oil-demand/