Thank you SH. Oil consumption continues to rise steadily. Buddy - your "peak consumption due to EVs" thesis could be true in a decade, but not in 2-3 years as the total number of EVs expected to be in production is far too low.
A couple things to note/clear up for Oren:
1) Like SharedHumanity ...... you continue to focus on
CONSUMPTION, without addressing
PRODUCTION. On this thread ..... I said that the price of oil is in a
LONG TERM DOWNTREND. It reached a
HIGH in July of 2008 (WTIC) .... and ten years is
LONG TERM in my book. The
PRICE of oil is where supply meets demand. But like other things in life, it is prone to
LONG TERM TRENDS .... and
SHORT TERM TRENDS. Now .... if someone wanted to argue/discuss that $27 was the
LOW in a long term trend that started in 2008 ..... that would be a reasonable argument to me .... and $27 COULD be the start of the next
LONG TERM UPTREND. I'm not
SURE that $27 for WTI set in January 2016 is the "low" or not......in fact I have said that oil is heading back to below $35. Could we be in a long term up trend from that $27 low? Sure ..... that is very possible. Could we go BELOW that $27 mark? We could do that as well.
By the way .... short term (next 6 - 12 months) I have said we'll likely see mid $50's in WTI.
2) My "thesis" on EV's (as stated on the cars, cars, cars thread) was specific:
New ICE only passenger cars will NOT be sold in the US AFTER 2025 by any major car manufacturer."Things to note in that statement (that I noted on the other thread) are: Hybrids are likely to still be sold after 2025 ...... trucks (ICE or Hybrids) may be sold after 2025 ...... and there are likely to be
VERY SMALL "custom shops" with very small, local distribution where you can still order an ICE vehicle.
3) Thirdly ..... my "thesis" (which has not yet been approved by my professor
) is
NOT that EV cars is the only reason for "peak consumption" of oil by 2021 - 2022 (Tony Seba has 2020 I believe).
Perhaps you haven't noticed ...... but there are some other things that are happening that effect peak consumption of oil:
a) Places (islands, states, Alaska, etc) that are changing from diesel to renewables.
b) EV motor bikes, scooters, etc are now all the rage .... and I expect that to provide just one more small reason for city dwellers to
NOT own a car
AT ALL. Especially in cities where car ownership is expensive like New York, Boston, Chicago, etc. That is
ALREADY STARTING.c) Those owning a car (at all) is on the rise .....
ALREADY ..... and we haven't yet reached the point of autonomous vehicle usage (except on test basis in Phoenix, Pittsburg, etc)
d) Lawn tools are moving quickly to electric. Mowers, edger's, etc. Small stuff.... but just one more little thing to add to the heap.
e) Electric yachts (EV cats are going to kill motor yachts). This has just started in the last few years ..... but it is going to escalate.
f) Ferry's going electric ..... Yes, large ferry's (no .... not fairy's:) are going electric.
g) Delivery vans, trucks of businesses are moving
QUICKLY to electric because of the fast payback.
h) As solar increases in both business and home, it pushes the movement to "solar everything"
As far as you agreeing with "the analysts" ...... well let's look at what analysts have said in the past:
And we all know how good the analysts are:May 21, 2008 in the New York Times
An Oracle of Oil Predicts $200-a-Barrel CrudeMr. Murti, 39, argues that the world’s seemingly unquenchable thirst for oil means prices will keep rising from here and stay above $100 into 2011
.
https://www.nytimes.com/2008/05/21/business/21oil.htmlI pay
LITTLE attention to "analysts". I'm a big believer in
FACT BASED RESEARCH.
As noted by Tony Seba ...... the best "consulting shop" in 1986 said that cell phones would have a subscription basis of 900,000 phones by 2000. They were low by a
FACTOR OF 120And ..... once more ..... the analysts will get it wrong....
By the way ..... I'll address SharedHumanity's post(s) on another post or two. There are some important things to address ..... and hopefully will be good information for you and others as well.....
I LOVE FACTS.Cheers ....