4 ms·

The other side of this argument is that the world is not getting off oil. We will need the oil if we want to get every nation up to a Euro/US standard of living

• toomuchtodo 2y ago
  BYD would like to have a word. They now employ twice as many workers as Toyota. https://www.statista.com/chart/30754/byd-passenger-car-sales/ https://www.statista.com/chart/30754/byd-passenger-car-sales... https://electrek.co/2024/05/29/byds-workforce-nearly-doubles-toyotas-ev-sales-surge/ https://electrek.co/2024/05/29/byds-workforce-nearly-doubles... https://electrek.co/2024/05/15/byd-just-hit-new-weekly-ev-sales-record-2024-china/ https://electrek.co/2024/05/15/byd-just-hit-new-weekly-ev-sa...
• JumpCrisscross 2y ago
  > the world is not getting off oil It’s destroying demand at a massive clip, if the IEA is to be believed [1]. With Riyadh’s elevated break-even price [2] that doesn’t leave them a lot of time. [1] https://www.axios.com/2024/06/12/oil-peak-demand-iea-projections https://www.axios.com/2024/06/12/oil-peak-demand-iea-project... [2] https://fred.stlouisfed.org/series/SAUPZPIOILBEGUSD https://fred.stlouisfed.org/series/SAUPZPIOILBEGUSD
  • toomuchtodo 2y ago
    Excellent call outs, the price of oil doesn’t have to go to zero, it must simply be held below what middle eastern countries need to pacify their populations. Failing that, all hell breaks loose, potentially impairing their petroleum supply chains (depending on intensity of turmoil that occurs).
  • moralestapia 2y ago
    The industry runs on oil (and gas) and that's not going to be phased away as easily as cars. It would be nice to see something like Tesla but for heavy/industrial machinery, though. I think I saw something somewhere, but can't find the source at this time.
  • elzbardico 2y ago
    The IEA is not to be believed.