Gay in the sense of living for today, but not giving a damn about tomorrow. I prefer to have OIL for the day we need it, rather than gold, which at best might be able to buy some oil. I have kids.
Gay in the sense of living for today, but not giving a damn about tomorrow. I prefer to have OIL for the day we need it, rather than gold, which at best might be able to buy some oil. I have kids.
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Oh I see. I disagree with your premise. I think the demand for oil will collapse. It will be slow at first and won’t really start until after 2020 but by 2025 everyone will see oil as a 20th century fuel. Its glory days over. The price of oil will likely go down to $35@ barrel which is where in btu terms coal and natural gas are today.
Oil is used mostly as a transportation fuel. The shift away from oil as a transportation fuel is in its very early stages. But its not a fad. Its not going away. Its only going to get stronger. There will be more electric cars in the world every year and not less and their price structure is falling. Both the europeans and the japanese have a vested interest in getting away from petrol fueled autos. They can never become energy independent if they don’t shift away from the internal combustion engine. Musk has already started work on his now famous battery factory in nevada which promises to deliver cars with a stronger battery at a 35k price point—to be shipped in 2018. This is a big deal. The effect on oil prices at first will be marginal. But the cumulative effect over years will be devastating for the price of oil as demand for oil dries up.