OilPrice.com, September 24, 2021:
“The oil industry is in a terminal decline, hedge fund manager James Jampel told Bloomberg on Friday, noting that this year’s rise in oil stocks has been “the biggest dead-cat bounce in history.”
“Despite being short on oil, Jampel isn’t long on renewable energy and renewable assets.
“The reason we don’t do that is because that kind of fund would be far, far too volatile,” the hedge fund manager told Bloomberg.”
So we’re all about to loose our O&G jobs soon, very soon, but notice how the activist investor is smart enough not to go long on renewables. Why ? Maybe the explanation comes here:
Bloomberg, August 5, 2021. Energy prices in Europe rise to record levels, getting the politicians worried.
“Thierry Bros, an energy professor at the Paris Institute of Political Studies. “You are not going to get re-elected if you are putting so many people into energy poverty. That’s going to be a wake up call for governments.”
Yes, a wake up call alright.
4 replies (most recent on top)
Again, I've made a great living from the oil industry. I just think that the average american will come to realize that these cars are cheaper to operate and to maintain (no belts, no oil change, etc). The whole C02 thing will not be the main driver. It will be their wallets.
The only thing I have found is the charging. I basically charge it every night and start the day with a 250+ range battery. Other than that, it works like a charm.
@1xjt+1d1YKNxn
Congratulations on being able to afford a model S, which probably costed you well north of $70,000. I hope you realize that probably at least 2 out of 3 Americans could not pay that much for one car. Sure, there are always cheaper models, also subsidized, but guess who ultimately pays for those subsidies ?
But let’s say that Uncle Joe passes another multi-trillion package and everybody gets as a gift a Tesla, plus a super fast charging network to be available in one year (I know, I know, this is America, not China, you can’t build anything fast, but indulge me).
With everybody eager to charge their new, highly enjoyable EV ride, WHERE does the electricity come from ? Why this obsessive focus on gasoline vs. electric cars and not on the ultimate source of energy ? How long would it take to upgrade the US grid to accommodate this huge extra load ? How many windmills and acres of solar panels would we need to provide the electricity ? What would happen to all this hardware once it’s decommissioned (and apparently not recyclable ?) How many batteries would we need to insure a reliable supply of energy from sources that are unpredictable ? How would the world mine all the metals needed for that tremendous amount of batteries ? Would all those activities actually result in a net drop of CO2 emissions or it’s all just a fig leave - you enjoy your cool Model S and think you’re saving the Earth, while the dirty stuff is in some nameless country never mentioned in your favorite media source ? Some questions that are not usually mentioned much in the media but are worth considering.
@1xjt+1d1YKNxn
Electric cars need to be plugged in to charge their batteries, so the real transition is not from gasoline to electric cars, but from fossil fuel to renewable generated electricity. How convenient is your electric car going to be if your electricity prices double or triple, and the supply is unreliable ? That’s the trend we see in Europe, and the abysmal solution, as in Germany, is to supplement electricity production with coal-generated power, which negates the very purpose of the whole process.
@1xjt+1d1YKNxn
You make a very strong point, however there needs to be a lot of support and change to set up enough charging stations just about everywhere to keep these vehicles moving. Texas has its own grid that will have to be efficiently upgraded. I'm not sure how people who live in apartment complexes will each have their own station to charge up overnight either. How will rural areas handle charging of vehicles when a lot of them are on co-ops and the electric goes out a lot, especially if there is a storm. I do not think the vehicles themselves are a problem, but it's the ability for the US to adapt to the change. We cannot piecemeal the change needed for EVs. I was surprised to find out how many areas(smaller towns, rural areas) do not have decent internet, I doubt companies will spend money on fiber-optics cable in those areas, let alone charging stations. If the US can come up with a well though-out, highly functional plan that is implemented correctly to integrate EV into everyday life, you are right...EVs will win.