RE:Congratulationsyup, congrats to those who ignored all the bufffoonery that EV gonna make oil companies and their downstream business going extinct. Reality is oil consumption is still up, gas stations are just changing hands to those who are more specialized in that business. Selling of gas stations don't mean those gas stations disappear. Expert trolls think that's proof petro demand is on the way down.
I still doubt experienced gonna take his ioniq 5 on pre-order.
Obscure1 wrote: First off, congrats to those who have held SU through the last couple of years as the $83 WTI has to be heartwarming.
In a bit of a somber note, Shell announced that they are divesting 500 gas stations in 2024 and another 500 in 2025. The company also announced that they are expanding EV charging and convenience store offerings.
IMO, the above information is more of a trend thing to watch as opposed to something to be alarmed about. Selling off or closing 1,000 gas station only represents 2.1% of their 50,000 gas station.