Oil Price, page-1132

"How many vehicles are on the planet today?"

North of 1,300,000,000 i believe mike mike.

"How many of those are electric?"

Well they estimate around 0.2 of 1% mike, so perhaps two and a half million.

"Who is going to replace all those non electric vehicles for ALL budgets and by when?"

It's unlikely to be Musk IMO mike, with Tesla currently having around 20 billion AUD globally, punting short on the stock. And why would he go private, when his adoring fans are so generous with his dream? Perhaps Tata?

"Stone age did not end because they ran out of stones. The oil age will not end because they ran out of oil."

Clever mike! Although it is generally agreed the Ice Age ended when ice was pretty much trumped by heat.

"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."

Agree, and it is a long way off.

Well we're out of time. All good questions Mike mike, and thanks for coming on the show.