Please watch the video at time stamp 4:50 goes on for a few minutes. The point being made there is that BP Bob Dudley is assuming that as EV growth will not grow alongside alternate energy power sources, that's a massive bit of short sightedness, yeh he does have an agenda "keep the oil flowing" sure, BP have always trailed any kind of creative thinking, this kind of thinking at the top of their organisation will cripple them. An interesting read that in addition to the 440 nuclear power stations world wide (source: http://www.world-nuclear.org/information-library/current-and-future-generation/plans-for-new-reactors-worldwide.aspx) there are an additional 50 nuclear plants in construction, might not seam like allot but that's just the start. And that's just nuclear, several other sources coming also in the process of being constructed and coming online, wind solar and so on. The EV revolution will take time, as mentioned in my previous post, EV are forecasted to cross ICE only in 2032. So by no means am I say that the problem will disappear instantly, but assuming that alternate energy sources will not come into play is not spot on.
MEI Price at posting:
2.7¢ Sentiment: None Disclosure: Held
