This really keeps me up at night. Pretty sure about many things. But if oil is the future or not I am 50:50. would be nice to know 😇
Discussion
The world has never consumed more oil than right now. The Compound Anual Growth Rate (CAGR) is still 2.5% it hasn’t even plateaued out.
The world has never consumed more coal than right now. CAGR is 1%
The world has never consumed more firewood than right now! CAGR 8%.
The only energy source we ever stopped using was whales and that’s because we killed them all.
But look at the earnings of those supermajors, the free cashflow from oil is simply enormous.
It dwarves tech and banking.
Well at least in the western world they seem to move away from oil. At least they try. My gut feeling is that fossil fuel or nuclear is the future. Because of higher energy density which is always better. But still with all the current talking about solar and wind and electric cars it might be the best bet. At least short term or mid tearm
