Oil Surplus Predicted This Decade

[Stewy]

(06-14-2024, 08:57 PM)NATI BENGALS Wrote: It definitely takes investment. And it is happening.

I wouldn’t call EVs a bust. I think we are at the tip of the iceberg and it’s accelerating. I don’t think hybrids and EVs are going anywhere, their adoption will continue to expand.
https://www.iea.org/news/the-worlds-electric-car-fleet-continues-to-grow-strongly-with-2024-sales-set-to-reach-17-million
“The number of electric cars sold globally in the first three months of this year is roughly equivalent to the number sold in all of 2020.”

And China is pumping them out.  
https://www.cnbc.com/2024/06/14/chinese-automakers-overtake-us-rivals-in-sales-for-the-first-time.html

We haven’t seen mass adoption of alternative fuel tractor trailers yet. Which I hope isn’t too far off. That will be another blow to oil demand.

I like my hybrid. But I would never want to have to plug my vehicle in for hours to get range. I’ve got my fingers crossed hydrogen takes off. Able to refuel in minutes and get hundreds of miles of range, and still have my instant acceleration with my electric motors.

Hope and reality are two different things.  Battery limitations and supply chain issues are problems that are not going away any time soon and hope won't fix them.  The current estimates of peak demand COMPLETELY ignore these factors, thus why I mention them.