What about them?
How many vehicles are on the planet today?
How many of those are electric?
Who is going to replace all those non electric vehicles for ALL budgets and by when?
Tomorrow how many as a % of all NEW vehicles will be electric?
Stone age did not end because they ran out of stones. The oil age will not end because they ran out of oil.
EV will improve but if they do take over from all cars that means that 40% of oil demand is still in the market. That demand for 40% oil will be for the most cost effective oil.
Oil Price, page-1131
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