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It might be interesting to see if this sustains across multiple quarters and then becomes necessary risk reporting to investors. The brief article says its time
by ggm 2y ago
It might be interesting to see if this sustains across multiple quarters and then becomes necessary risk reporting to investors. The brief article says its time for opportunistic shorting for high risk players, but I am more interested in a longer term trend to the dynamics. Tar sands don't look very compelling if the price sinks. That said, perverse things happen, like dumping, or differently, extracting the most expensive stuff now, to make more money when demand rises from the cheaper stocks.
Mainly, I just hope this trend is indicative of a decline in the NEED for oil but thats a bit further off. I bet Norway is glad it banked the funds, and Scotland is livid it wasn't allowed to.
Australia prices off Singapore. Brent informs the northern hemisphere more? We have a dreadfully cyclical local market price at the pump, its a giant con. Currently $161 at discount fuel stores, was $220 a couple of weeks ago. Every EV driver I know says they don't miss the game at all, and not all of them have their own solar to charge from: They all say they're miles ahead (sorry)
- toomuchtodo 2y agohttps://www.iea.org/commentaries/china-s-slowdown-is-weighing-on-the-outlook-for-global-oil-demand-growth https://www.iea.org/commentaries/china-s-slowdown-is-weighin... https://www.iea.org/reports/global-ev-outlook-2024/trends-in-electric-cars https://www.iea.org/reports/global-ev-outlook-2024/trends-in... https://www.reuters.com/business/autos-transportation/chinese-automakers-open-factories-abroad-export-clout-causes-friction-2024-03-14/ https://www.reuters.com/business/autos-transportation/chines... I cannot overstate that we are at an inflection point with regards to the transition from combustion to electric for light vehicles, the evidence is clear. Future mobility growth in countries that have not yet fully developed will meet their needs with EVs as China's EV manufacturing ramp continues (with BYD building factories currently in Thailand, Brazil, Hungary, Uzbekistan, and plans for factories in Pakistan and Mexico).
- ggm 2y agoFor a case argued in those reports that oil as car fuel was driven (sorry) by China, and now China has moved tracks that growth path is removed? Sure. I can buy the argument.
- deleted 2y ago[deleted]