RE:if it plays out , yikesI'm a regular reader of their newsletter and have followed Leigh Goehring for a long while. He is clearly super smart but can be awfully wrong at times. Their new long-term bearishness in copper is new, they were very bullish earlier in the year seeing huge new demand from India and Indonesia offsetting potential weakness from China.
Clearly, if the world completely makes a 180 on renewables, that would be bad for copper but that is very unlikely to happen.I don't buy their analysis on renewables, for one, they completely ignore the externalities (bad, growing and increasingly visible) of fossil fuel derived energy. Nor do they acknowledge the amazing tech driven improvements in renewables.
They do have a point on Uranium though. I do believe that will play an increasing role but that is 5-10 years out at least and, as someone else pointed out, that energy will still require some copper and there will be copper in the infrastructure, transmission etc.
Upwards and onwards IVN