Click here to get a free charger and installation when pre-ordering the G6 xpeng.com.au/?qr=726XPO The best solar company in Australia just installed my new solar system. Check them out here: www.resinc.com.au/electricviking
In Norway, fossil fuel sales are down 12 percent from Oct 2023 to Oct 24. As EV adoption and electrification increases in the rest of the world, the demand will drop rapidly. It´s inevitable
@@IgorPellinen EV's have reached the point of destroy 1% of daily demand. Sounds trivial.. it's not. Prices are set by the most expensive barrel to produce. That 1% in demand is putting downwards pressure already. And it's projected to be 2% by the end of 2026. Again not much. But we are much less likely to ever see oil over $100 per barrel again. I'm filling up for $2.33 per gallon. Ironically, it makes the case for going electric less compelling. Because every $1 per gallon is basically $1,200 per year saved.
@@IgorPellinenthat’s probably true, but ICE is almost nonexistent in the statistics for new vehicle sales regarding personal transportation . It is just a question about time before more than 50 % of all cars on Norwegian roads are BEV. I saw a prediction that said mid 2028. Norway is an outlier and a small country, but still.
@@amandagrant4331 China does not have large oil reserves-so yeah-its smart to electrify everything with a cheaper energy source and cut terrible urban pollution as well.
This is all good news. We are transforming to a cleaner economy that is less dependent on a dirty fuel and those who still need it to survive can get it cheaper
Agreed, the world is getting warmer every year. It used to snow in my hometown in November, but now it still rains in November. We should reduce the use of fossil fuels.
Not necessarily cheaper. As demand craters, and prices at first go down, production in many places will be curtailed or stopped altogether, and that will in turn put an upward pressure on oil prices and probably put them right back to where they started, if not higher. Which is ok by me if high oil prices get even more people to give up their oil habit.
Yeah, we’re going to see undulations in price as the chain unwinds & we lose economy of scale on fuel. Availability is probably the bigger issue that’s going to crush usage
The suggestion that it will be a cleaner economy less reliant on so-called dirty fuel is misguided and contrary to currently available empirical evidence. Woke green politics, like what has brought the might of German industrial output to its knees, is what lies behind such notions.
@@Tom-dt4ic the expensive producers will drop out first-deepwater wells,remote locations,frackers etc...Saudi Arabia is still at $10 per barrel production cost
The expected outcome of decreasing oil demand is lower gas prices. This is true to a point. Gas refining is a very capital intensive industry. As gas demand goes below a certain point the price will actually increase to cover the fixed costs.
Actually, the oil & gas companies that can't adapt to the updated current demand drop will disappear. The initial effect would definitely market price drop on the product. While the governments taxes, environmental fees, and other user punishment fees would be increased to prevent consumers from switching back to fossil fuel.
you will see decreases in price , then you will see consolidation of refiners and production cuts to keep the price elevated. the small players will go out of business. , then as more consolidation happens we will see a slight price increase. This will trigger more conversion to EV's and then trigger another round of consolidation, and the cycle will repeat until it implodes. its going to happen much faster than many people realize.
This is 100% true. As someone who works on strategy for major companies in the energy industry, I can tell you that all of their strategic and investment decisions are based on oil demand cratering. Transportation is 40% of oil demand and this is going away. I can't remember the exact figure but a huge proportion of that 40% is Chinese demand evaporating in front of our eyes as we speak. It's also important to understand that Trump can say what he wants, it makes little difference, O&G producers have not made the investments needed to "drill baby drill" that will have an impact in the near term, and they wont deploy billions and billions to "drill baby drill" because this is not a sensible long term strategy. Plus even if they could magically deploy capital and build out capacity so quickly, they wouldn't want to because they wouldn't want to crater the price of the commodity for obvious reasons. This is the benefit of listening to what market participants are saying and not what some loud mouth clueless politician promises. Edit: also banks won't finance "drill baby drill" because for the aforementioned reasons those assets will become stranded and the bank doesn't want the risk exposure. These businesses are not run by yahoos, they didn't get filthy rich by making dumb cartoon villain short termist decisions.
@EwanM11 Legacy ICE owners are going to sweat their assets too: expect holdout gas guzzler drivers to keep their vehicles longer and longer, as the price of petrol decreases. At the same time petrol stations are going to be closing faster than the Pubs have been, as the total demand reduces.
@@ZweiZwolf ah this was thing I was thinking through video as trucks are always diesel and said difficult to replace with EV. Maybe chinese trucks are bleeding edge already, before anyone else.
@@effexon Electric trucks are taking over in China, but it's not particularly fancy, just a really big battery pack. If you look at Chinese / Chinese-built ports, they are automated with integrated robotic container movers that are entirely electric. China is leveraging low cost battery chemistry that isn't otherwise available, where large size and/or high weight are otherwise unsuitable for smaller vehicles.
@@ZweiZwolf fair. where is all that electric coming to energize all that? in west despite renewable promoting that still is almost afterthought to upgrade grid and various systems to handle that.
Great news. Notwithstanding the oil industry has propelled the world forward for many decades both economically and literally, owing to recent behavior few will shed a tear for the oil industry or, especially, any oil cartel countries.
Maybe it's because the cars are better and lasting longer nowadays? It's always smart to wait with new technological products. Remember the LCD-TVs now, compared to 10 years ago, and their price?
@@Sendu7 I’d bet sales of EV’s in the US either declines or remains about the same as cars purchased in the US will be primarily ICE. If we sell more EV’s more states will be like CA. Sorry you can’t charge your EV today. We need this power for homes and factories. Not to mention the scramble to find enough energy to power AI data centers. The war on 24/7 power generation is starting to have casualties. In the meantime we haven’t seen any beneficial climate results. However, we are seeing some new billionaires. Maybe that was the intention from the beginning?
@@jlanetman True. EV sales are starting to 'level off' and ICE vehicles are still going to dominate sales for quite a while; if anything will replace ICE it'll be a hybrid vehicle. The infrastucture for ICE vehicles is in place and its very convenient to use, whereas EVs charging infrastucture is minimal and can be non-existent in some areas (and its time wasting to 'fill' an EV), plus the electric grid would have to be improved (and more electricity generated) to power a USA dominated by EVs. Sam mentions folks charging EVs from their home solar system, but if you have house you'll have to add the cost of installing solar on top of your EVs cost if there is no other reason to install solar.
@@thorblau7943 That's part of it, to be sure. Back in the 70's the rule of thumb for upper edge of durability was 100K miles. That's steadily increased due to a combination of much better design and also cost increasing (meaning patching up vs buying new made more sense). Now vehicles are viable economically up to around 200K. You can definitely push some of them out further, but that gamb[e only makes sense if you're hardly putting any miles on it and you're willing to trade your time and skill to avoid the true maintenance cost. Commercial fleets shed vehicles around 150K-200K because of that, they aren't truly economically viable at that point.
And I just switched from Propane to a Heat Pump. Next year my hot water heater will be switched out to electric HP. My neighbor is all for oil and gas but still bought a Hybrid with a 60Km electric range. Go figure. I have one EV but looking for a second one. Hopefully with solid state batteries. Cheers.
Just imagine what it would do to world oil demand if the US and all of the worlds developed countries ramped up their switch to EV's. Oil demand has played a very damaging part in the economies of the worlds countries.In future the wealth of the world will be more balanced as most countries have access to the sun,the wind and other ways of generating electricity.
For the switch US and EU must first invest in mining. I know that it would be perfect for the pollution to be located in other parts of the world but it will not work. Also more STEM graduates would help.
Perhaps it's more an indication that the state of Israel is losing its ability to influence geopolitics, along with the fact that the US warned Bibi not to blow up Iran's energy assets because Iran countered this threat by pointing its weapons at Saudi and other gulf oil-producing states. Then, we would have had crude at USD 300 per barrel and a total global implosion all caused by the Knesset.
some runway to go .... 102mln b per day and china managing to reduce 1mn (of 11mn per day if I remember correctly) that is marginal so far in big picture. however it makes perfect sense for china to reduce it as low as they possibly can to reduce shipping and other import risks and costs.
You are quite right. We should not see any more new demand on fossil fuel as the source of power generation -- at least not in US. My friend worked on setting up power plants in US. She worked on setting up natural gas power plants in the past many years. In the past 1 to 2 years, she has been working on solar and renewal energy storages -- exclusively. The writing is definitely on the wall.
The sooner we can get rid of petrol and diesel as fuels for light transport in Australia the better. Our fossil fuels are imported whereas EVs can run on power produced mostly from sunlight and wind. It may take longer to convert heavy haulage.
Australia has plenty of Gas however successive Federal governments have allowed US multinationals to sell it offshore at unrealistically low prices starving locals of cheap clean energy, for home, industrial, light, and heavy vehicle use. LEV ICE technology, along with cleaner fuels has mitigated emissions in Australia for decades. Prime Minister Whitlam tried to nationalise Australia's vast hydrocarbon wealth in the early 1970's but was unceremoniously and unconstitutionally removed.
No, the likes of the recently defunct German Coalition have done a sterling job of completely discrediting the so-called 'green revolution' as rebadged soviet style totalitarian backwardation, eh Klaus?
The oil industry has only have to deal with growth, apart from a short term drop in global demand during Covid. That drop showed just how fragile the industry is, a few % change in demand causes big losses of $. How they deal with long term decline will be interesting.
@@philiptaylor7902 The best way to incentivize less fuel use is carbon tax like Canada is doing. Higher gas prices at pump will make people think twice before misusing PHEVs, and they will remember to charge the car everyday.
@@i6power30 Here in the UK increasing fuel duty is politically "sensitive", shall we say. Even in the recent tax raising budget our Chancellor didn't dare go there, even though it's a wide open opportunity.
You can plug in your car everywhere in Shenzhen. Petrol car registration is costly. You have to add ¥20000 rmb minimum to get the license alone. Hybrid and ev are free near free
If gas prices in the USA fall because China is buying less oil, Trump will take credit for that. US EV adoption might slow down a bit until Chinese EVs get even cheaper.
Yup. Economics 101. OIl prices will nose dive once major glut in supply. Same thing will happen to coal too. Rocket scientist Trump says to invest on oil and coal. It's crazy half the American electorate voted for him including Musk.. What a gong show the next 4 years are going to be.
Here what I understand is required for Tesla cars Transmission oils. Tesla's do not have as many moving mechanical parts as a gas vehicles (or diesel vehicle). Tesla vehicles have a drivetrain it has a special lubricant, it’s a synthetic transmission fluid called Pentosin ATF 9. Teslas don't need oil or oil changes. However, the all-electric car's gearbox or drive system does need synthetic oil to facilitate smooth transmissions. However, unlike the standard motor oil, Tesla's synthetic oil doesn't need to be replaced since they don't break down over time.
Tesla transmission does eventually need it's fluid changing, but we're talking many hundreds of thousands of miles, probably beyond the lifetime of most cars. Using Fossil oil for plastics and lubricants is not great but it's more easily disposed than emissions and obviously it's an order of magnitude worse to burn it and chuck it all into the atmosphere.
That great and certainly the world needs more electric cars. But do yourself a favor and pick up a copy of Consumer reports used car guide. Telsas do not come out very well. I suspect most Telsa's get purchased largely on vanity due to their sex appeal. You'd be much better off with a hybrid or a Toyota Prius.
Tesla's transmission oil change might be as much as 20 gallons every 100,000 miles, but it's probably MUCH less. A hyper-efficient gasoline hybrid of similar size and might need 20 gallons every 1,000 miles. The Tesla EV uses less than 1% as much oil as the gasoline car, which also should have engine oil and transmission fluid changed.
I assume the air travels are increasing rather quickly though, so I doubt the oil consumption won’t decrease dramatically in short to medium term. I think the oil consumption will decrease when we reach peak oil production, and that might not be too far off.
This is Houston. Marathon oil closed its over 100 year old refinery a couple of years ago because it couldn’t compete and now Lyondell is closing its refinery, one of the largest in the nation, also here in Houston. The market is beginning to shake out the least competitive oil refineries. This is how the transition started for coal as well. Meanwhile, Texas is a national leader in wind, solar and battery production. The transition away from oil is happening and we’re living it here in Texas.
@@electricviking china is switching back to gasoline engines because consumers are sick of repair cost and and repaid depreciation low quality evs and its all being covered up by chinese government. the reason they pushed ev to begin with cause chinese cannot manufacture internal combustion engines worth a crap it requires much tighter tolarances in manufacturing they cant seem to manage.
I remember reading an article somewhere around 2015. OPEC Had been producing an extra 1mil barrels of oil to stop other nations, like Canada, from developing more expensive oil fields. This caused a glut of oil and drove prices down. In the article he had predicted the same thing would happen when eclectic cars hit a certain percentage, don't remember what the number was... What I do remember is that the price of oil would start dropping, but then it would raise because cost of production would start to raise. How long until that starts to happen... Two years?
except for rising emission standards, making stink engines more expensive to make and own regulating the poisons that petrol engines emit into the air we need to breathe.
There are many professional investors who, as contrarians, are keenly absorbing resources like energy and metals as they consider their market values suppressed. Kondratieff?
There are so many EV’s in Los Angeles (mostly Teslas) an oil refinery near the harbor there is closing next year. The US is already producing more oil then it ever has.
The same International Energy Agency : from now to 2030, China's renewable energy installed capacity is expected to account for nearly 60% of the world's total installed capacity. By 2030, China will have more than half of the world's renewable energy ， and China’s solar energy output is equal to the entire nation’s consumption in the U$.
When they artificially cut oil supply to increase the price. It accelated the green transition. They should flood the market with cheap oil to entice demand.
A combination of small electric mobility devices, tariffs, and Transportation as a service a couple years away. In North America what is likely to happen? Seems pretty clear to me
Interesting. Seems like the oil prices and demand curves for production, processing and distribution are up. Also seems like more and more communities want RELIABLE power, with few wanting nuclear. Guess what that leaves?
what do you think of Tesla's plan to use hydrogen? From what I could see the car will still be electric powered? It would be good if you made a video about this.
It could help pay off the US national debt by taxing gasoline another dollar per gallon for every dollar it drops. Keep the price where it is and it will keep electric vehicle development and adoption going. DJT could brag that he is stabilizing gasoline prices at the pump..
Not sure hybrids use less fuel. Yes if driving around town but not long journeys as a family member found out when he bought a hybrid and it actually uses more fuel that the equivalent ice version.
Thanks for this Sam. If Trump does "drill, baby, drill" the oil price could plummet. It would be interesting to have some stats on annual oil usage compared with number of ICE vs EV cars - e.g. x,000 cars swapped equates to y barrels of oil per year. We could then see how long the countries totally dependent on oil exports have left.
Rocket scientist Trump can say whatever he wants. Anyone looking to expand oil (or coal) today will lose their shirt in a decade or so by which time global demand for oil will have significantly declined. Existing unconventional oil (e.g. shale oil) which makes up majority of American oil production, will be especially hit hard due to extra cost of production.. The coming glut will lead to decline in global oil prices making unconventional oil no longer profitable. The companies that will survive are the ones that produce oil cheap and even they will be reduced in size. Trump supporters may have won the election, but they cant beat the economics. It's going to be comical watching them try to explain e away their silly claims as global demand for oil and coal starts to declines.
@@mydogsbutler Please show us the strength of your convictions by revealing who and what you are currently shorting in the energy sector, especially hydrocarbons?
Gas is and will become a larger piece of the energy demand pie because its effectively a transition fuel. Prices will rise because demand is incredibly high especially in Europe and Asia. But will ultimately stabilise because their will be a new 'OPEC of gas' (you heard it here first) who will do what they do with oil and try to keep it in a stable price range, but also because US shale can ramp up and down quick enough to stabilise prices, and the market will end up in backwardation.
As gas prices go down, oil and gas production facilities will permanently close. As supply drops it will drive up price again but the prices will be only sustainable at lower supply levels. Few are going to be stupid enough to invest in oil production once the shift to EVs and alternate energy tech is in full swing Especially not unconventional oil production which is very expensive.
@@mydogsbutler As "gas" prices go down demand may increase and the "shift" will be delayed putting cost pressure back on the EV/battery industry. Generous government support for EV's may also disappear, adding further woes to the industry's bottom line, while revelations about the harms caused by the massive mining required for batteries may sideline the industry before it ever gets anywhere near becoming endemic.
@@paulc6766 No. The IEA is Parisian, the Electric Viking is Australian, and the American O&G industry refers to Gas as Gas. The "gas" you're referring to is a term used only by the media and plebs at the pump. Source: I work in the industry.
Obsolete for western inner-city sybarites, climate change apparatchiks, and ardent global warming zealots but not for many other people who may not be as wealthy, politically "savvy", or fortunate.
The people who control the oil companies are not fools. They know how to make bigger profits by reducing the amount of oil they produce. Many oil companies have been reporting record profits in 2023 and 2024.
I did the calculations 6 months ago, and found that all the EV Globally were reducing Oil Demand by 1 million barrels a day. Its probably 1.4 million today. This combined with Trump unleashing US Oil & Gas drilling will significantly lower Oil Prices, making everything cheaper for consumers. Everything needs energy to be built and to transport to markets.
Market highs can sometimes be followed by corrections, but predicting the timing and extent of it is challenging. I've heard some analysts talk about a 'massive' correction. It makes me wonder if it's time to adjust my $2M portfolios or maybe even consider some defensive investments.
Consider diversifying your portfolio with a mix of stocks and stable assets. Seeking professional advice now could provide valuable insights and strategies to navigate market uncertainties and protect your investments.
I've been in touch with a financial analyst ever since I started investing. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Thank you for saving me hours of back and forth investigation into the markets. I simply copied and pasted her full name into my browser, and her website came up first in search results. She looks flawless.
For a manufacturing country, producing oil isn't about selling it for a good price, rather it is about having cheap energy to build and create. So Saudi and Russia and Iran (Canada too) as well as other big exporters will suffer while product producers will benefit from being able to ship and create things more efficiently. Thus the US wanting to have a manufacturing boom means having cheap energy is a good thing, right?
If you drive less than 250 miles a day but a lot of miles, then an electric car which you can charge at home probably looks a very attractive option. Therefore, a relatively high mileage user faces a very attractive equation when looking at EVS. If you have an old diesel car which you own, and only purchase one tank of diesel per month because you only do 5000 miles a year the economics do not. In other words it is highly likely that your typical Tesla driver probably would have been a way above average petrol / diesel purchaser. Therefore, as more EVs come onto the roads the demand for fossil fuels will have an leveraged effect downwards. There must be an equation which would go for every 100,000 EVs that the annual demand for oil would fall by X amount. Presumably someone in the oil industry must have worked this out. It would be interesting to know what that figure is.
I have no idea if your 40 percent is right. Let's assume it is. With all the more efficient renewable energy and battery storage coming on line, that number should continue to drop. If you assume the average life of an automobile. Whether EV or ICE, is 20 years. The percentage of EVs will continue to climb. I would think the demand for oil will drop an increasing rate. Time will tell.
@@paulc6766 Don't insult me. I will spell it out for you. What percentage is renewable, coal, oil, etc. Do you have an answer or are you just going to troll? Do you have anything of substance to add?
@@meandshe1518 This blogger insults people because they cannot communicate and debate respectfully and effectively. I believe it's a generational event [cultural revolution] and is why the West is so full of people who, like many in the German Government, will blindly deindustrialise their country upon an alter of global warming, identity politics, and soviet style totalitarian political deadends. Yuri Besmenov said it 40 years ago.
If the free market mechanism works then petrol and diesel should come down in price. But I,m sure most people realise that the operating cost of an ev is way lower than an ice car. Remember steam engines did not go extinct due to lack of coal.
@eish3291 steam engines were developed first. However they require continual feeding in of wood or oil AND frequent replenishment of water. And they were big and heavy. OK for steam trains and mines , etc with people doing these tasks. Petrol engines were small with tanks feeding in the fuel automatically, and far more practical for cars
Under utlization of refineries, extraction, etc would increase cost of operation. They will reduce price to keep demand high but more percentage of the 80M vehicles sold annually no longer need gas to operate.
It isn't going to make sense to produce more oil in the US if the demand isn't there. A lot of the oil produced in the US is exported and reduction of demand in other countries is going to lower the prices everywhere, including the US.
China hit Peak Oil last year, and NEVs are now over half of their new car market. China is buying far less oil, and it'll continue declining as NEV share keeps climbing. But the idea that this is somehow due to Chinese government subsidy is wrong. China spends very little cash compared to America giving a $7,500 rebate on every EV lease.
Dear Electric Viking, it would be great if you could have some more illustrations showing what you are talking about, like " ´1 million barrels of overproduction per day". As it is now, the movies are somewhat distracting, and make it harder to listen to what you say. They look nice, but that is sort of part of the problem. Well, just my ten cents, I might be the only one with this view.
The owner of this channel intends that "the movies are somewhat distracting, and make it harder to listen to what you say" because the dialogue is illogical and baseless, and does not withstand scrutiny.
While peak oil demand in China is declining, according to IEA has increased by 900,000 bpd in 2024, and is projected to increase by 950,000 bpd in 2025. Your analysis also fails to take into account geopolitics … namely the Russian - Ukrainian war and potential future embargoes relative to Iran by the Trump administration.
a process to green In 2030, China will produce electricity through solar farm more than US through all sort of power plant, coal/gas/nuclear/wind/solar.
Ta nafta će se i dalje paliti, ali u termoelektranama koje će proizvoditi struju za električne automobile, pozitivno je to što će se zagađenje zraka u gradovima smanjiti. Koliko prostora zauzima jedna teroelektrana na naftu i koliki je ekvivalent potrošnje prostora jedne solarne elektrane iste snage? U budućnosti nas očekuje nedostatak prostora. Novi solarni paneli će tu dosta pomoći, ali još nisu na tržištu. Ima tu još jako puno posla...
@@paulc6766 Niti ja, ali nam eugeničari žele smanjiti broj ljudi na Zemlji na 500-1000 milijuna, jer oni misle da nas ima previše, i da nema mjesta. Zato sve ove gluposti oko hrane i proizvodnje hrane, koja zapravo nije hrana, jer nema vitamina, minerala i enzima.
@@hanswitvliet8188 Preferring "On the pyre with him," over rational civilised debate indicates potential zealotry, ideological bigotry, and pathological issues like TDS.
@@hanswitvliet8188 Also, implying that oil is biogenic is merely an assumption. The number of dinosaurs necessary is unrealistically and incomprehensibly large.
Great news and the results could have been even better if countries like USA and EU did not put up huge tariffs to stop affordable Chinese EVs from entering their countries. It's a case of looking out for one's own backyard whilst watching the planet die.
A glut means lower gas prices though and in countries that do not force things like china that means business as usual esp for pickup trucks which drive vehicle sales in the us and for which there is no viable ev alternative. So no this is not enough by any stretch. We don't need to just peak we need to drop off sharply with oil use in particular, of all fossil fuels, to finally pivot
about 2/3 can own a house. about 1/3 can't. So we need leased, rented homes, condos, and apartments to start coming with ev charging built in for folks who can't own a home.
Own a Tesla, added PV panels last year and adding some PowerWalls Q1 of 2025. We were forced to take our RMD’s (didn’t need the money and we stopped traveling after COVID, so that money was MAD money) plowed it into our home to create an ISLAND.
Russia is building and paying for a huge pipeline to China. It would be sweet if they finished it and then China rather than demanding oil below the cost of production as of now simply said 'we don't need any'. Huge amounts of money and Russia has to swallow the entire cost as a loss. That would be nice.
Schadenfreude on Russia is one thing, but merely hoping that their prudent, well-negotiated, and efficiently executed infrastructure investments with their major trading partner and geopolitical ally would fail is hopelessly unrealistic. Investing successfully in energy markets must go beyond personal preferences and biases. Gas, as we all know, kept German Industry ahead until Merkel and her successors denuded that country of its right to Industrial strength with disastrous consequences. Woke green energy policies have dubiously arrested many Western nations.
Any pipeline already built in Siberia is going to be wrecked by subsidence as the tundra thaws anyway. Which also will cause massive natural methane releases, but that's nothing compared to what happens when methane hydrates in the oceans evaporate.
@@warheadsnation This comment is based on many different assumptions and is emotionally provocative, but not truly scientifically based. Thus it is more like green "global warming" propaganda, which seems to be this channel's raison d'etre.
In a few more years, electric semis are going to start taking a huge chunk of marketshare from fossil. Musk'ssSemi is going to be a major distrupter in American semi industry but the Chinese are probably going to be the biggest in the world . The US shot its own economic interests in the foot by sticking with oil instead of going all-in with EV and alternative energy tech like China has done.
@@mydogsbutler Can you please be a little more specific than simply "In a few more years"? My understanding is that haulage, which uses far more hydrocarbons than light, private individual transport, is less likely to be easily electrified if at all. What about other alternatives?
I too want to hope with you, but... In 2023, the world produced 96.4 million barrels of oil per day. 1,000,000 barrels is just slightly more than 1% of daily production, a reasonable fluctuation. The following is AI generated... The theory that increased resource efficiency leads to increased resource consumption is called the Jevons paradox. The paradox states that when a resource becomes more efficient to use, the cost of using it decreases, which leads to increased demand and consumption. The Jevons paradox is difficult to test empirically, but some say it could have significant implications for climate and energy policy. The paradox can be seen in many situations, such as: Water usage: As water becomes easier to access, people use more of it. Productivity tools: While productivity tools can help people get more done, they may also make people feel busier and more anxious. Digital technology: While the energy efficiency of digital devices has increased, the total amount of energy consumed by digital technology continues to rise. The effect of increased resource efficiency leading to increased resource consumption is also known as "rebound". When increased consumption more than cancels out any energy savings, it's called "backfire".
If some Americans could only channel their negativity and politicizing of battery EVs to creativity, imagine what our world would look like. The truth is that no matter what the new administration does, EV proliferation is inevitable as China is leading. This reminded of coal. Resistance is futile.
Automotive Oil consumption in the US peaked in 2017 and has been flat ever since, even though there are 16 million more cars registered since 2017. Trump may setback EV adoption rates in the US for the next 4 years, however it can't be stopped now. In the coming few years EV's will have Gen 2 batteries with more range and faster charging, making even PHEV's uncompetitive with BEV's.
Click here to get a free charger and installation when pre-ordering the G6
xpeng.com.au/?qr=726XPO
The best solar company in Australia just installed my new solar system.
Check them out here:
www.resinc.com.au/electricviking
In Norway, fossil fuel sales are down 12 percent from Oct 2023 to Oct 24. As EV adoption and electrification increases in the rest of the world, the demand will drop rapidly. It´s inevitable
So far EV's are about 5% even in developed countries (even not counting trucks/tractors) so maybe next century.
@@IgorPellinenIn norway is 50% ,in only 10 years
Less than 20% of cars in Norway are electric. Even with their absurd taxes to the ICEs. Again, not counting non-passenger vehicles etc.
@@IgorPellinen EV's have reached the point of destroy 1% of daily demand. Sounds trivial.. it's not. Prices are set by the most expensive barrel to produce. That 1% in demand is putting downwards pressure already. And it's projected to be 2% by the end of 2026. Again not much. But we are much less likely to ever see oil over $100 per barrel again.
I'm filling up for $2.33 per gallon.
Ironically, it makes the case for going electric less compelling. Because every $1 per gallon is basically $1,200 per year saved.
@@IgorPellinenthat’s probably true, but ICE is almost nonexistent in the statistics for new vehicle sales regarding personal transportation . It is just a question about time before more than 50 % of all cars on Norwegian roads are BEV. I saw a prediction that said mid 2028. Norway is an outlier and a small country, but still.
Been looking forward to this news!
since the 1970's
@@screws1227 wait till you read my diary of wonrderings, i wonder?
This is the goal of China's long-term efforts
@@amandagrant4331 China does not have large oil reserves-so yeah-its smart to electrify everything with a cheaper energy source and cut terrible urban pollution as well.
Buzz Aldrin on the moon
This is all good news. We are transforming to a cleaner economy that is less dependent on a dirty fuel and those who still need it to survive can get it cheaper
Agreed, the world is getting warmer every year. It used to snow in my hometown in November, but now it still rains in November. We should reduce the use of fossil fuels.
Not necessarily cheaper. As demand craters, and prices at first go down, production in many places will be curtailed or stopped altogether, and that will in turn put an upward pressure on oil prices and probably put them right back to where they started, if not higher. Which is ok by me if high oil prices get even more people to give up their oil habit.
Yeah, we’re going to see undulations in price as the chain unwinds & we lose economy of scale on fuel. Availability is probably the bigger issue that’s going to crush usage
The suggestion that it will be a cleaner economy less reliant on so-called dirty fuel is misguided and contrary to currently available empirical evidence. Woke green politics, like what has brought the might of German industrial output to its knees, is what lies behind such notions.
@@Tom-dt4ic the expensive producers will drop out first-deepwater wells,remote locations,frackers etc...Saudi Arabia is still at $10 per barrel production cost
The expected outcome of decreasing oil demand is lower gas prices. This is true to a point. Gas refining is a very capital intensive industry. As gas demand goes below a certain point the price will actually increase to cover the fixed costs.
A key point most comments miss. At some point the profits to refine will be flat and shrink, due to the cost of running a refinery.
Actually, the oil & gas companies that can't adapt to the updated current demand drop will disappear.
The initial effect would definitely market price drop on the product.
While the governments taxes, environmental fees, and other user punishment fees would be increased to prevent consumers from switching back to fossil fuel.
you will see decreases in price , then you will see consolidation of refiners and production cuts to keep the price elevated. the small players will go out of business. , then as more consolidation happens we will see a slight price increase. This will trigger more conversion to EV's and then trigger another round of consolidation, and the cycle will repeat until it implodes. its going to happen much faster than many people realize.
@@davidstrong7854 There might be a strong growth in aviation use of oil because of the decline in prices. Non-oil aviation is still years away.
That will accelerate the move away from ICE carss
Less Oil in China makes Prices here to drop. From 2,20 euro a liter to 1.70 a liter. Thank You China. 👍🌹❤️
Look forward to the Americans praising Trump for lowering oil prices without having any idea as to why it's actually happened
Cool, so China will make the transition to EVs and Europe will breathe polluted air because of the cheap oil
Less local oil consumption would make it even drop more. So more electric vehicles are even good for the owner of old combustion engine driven cars.
@@andyastrand True, how stupid to think a politician could have major influence on the global oil market.
Oilcompanies hate low oilprices.
This is 100% true. As someone who works on strategy for major companies in the energy industry, I can tell you that all of their strategic and investment decisions are based on oil demand cratering.
Transportation is 40% of oil demand and this is going away. I can't remember the exact figure but a huge proportion of that 40% is Chinese demand evaporating in front of our eyes as we speak.
It's also important to understand that Trump can say what he wants, it makes little difference, O&G producers have not made the investments needed to "drill baby drill" that will have an impact in the near term, and they wont deploy billions and billions to "drill baby drill" because this is not a sensible long term strategy. Plus even if they could magically deploy capital and build out capacity so quickly, they wouldn't want to because they wouldn't want to crater the price of the commodity for obvious reasons.
This is the benefit of listening to what market participants are saying and not what some loud mouth clueless politician promises.
Edit: also banks won't finance "drill baby drill" because for the aforementioned reasons those assets will become stranded and the bank doesn't want the risk exposure.
These businesses are not run by yahoos, they didn't get filthy rich by making dumb cartoon villain short termist decisions.
Absolutely. Energy companies are just going to sweat their assets now.
@EwanM11 Legacy ICE owners are going to sweat their assets too: expect holdout gas guzzler drivers to keep their vehicles longer and longer, as the price of petrol decreases. At the same time petrol stations are going to be closing faster than the Pubs have been, as the total demand reduces.
The U.S. is producing more oil then at anytime in its history so trump is just talking out his ass
You mean Trump was just talking out of his corn hole? Say it ain’t so.
Yes, oil execs plan their exit strategies but maintain their pro-oil rhetoric. Leave the little guy holding the bag.
When i was in China about 6 weeks ago i saw no pollution for over a month wbile was there. Lots of electric scooters cars and even busses.
Electric taxis and rideshare, plus electric trams and trains! Also electric trucks, which have swappable batteries in a HUGE box behind the cab.
Me too. Blue Sky everywhere I do go... Amazing contrast with 10 years ago
@@ZweiZwolf ah this was thing I was thinking through video as trucks are always diesel and said difficult to replace with EV. Maybe chinese trucks are bleeding edge already, before anyone else.
@@effexon Electric trucks are taking over in China, but it's not particularly fancy, just a really big battery pack. If you look at Chinese / Chinese-built ports, they are automated with integrated robotic container movers that are entirely electric. China is leveraging low cost battery chemistry that isn't otherwise available, where large size and/or high weight are otherwise unsuitable for smaller vehicles.
@@ZweiZwolf fair. where is all that electric coming to energize all that? in west despite renewable promoting that still is almost afterthought to upgrade grid and various systems to handle that.
good news to the world
Great news. Notwithstanding the oil industry has propelled the world forward for many decades both economically and literally, owing to recent behavior few will shed a tear for the oil industry or, especially, any oil cartel countries.
Due to cost of living pressures and perhaps people waiting for EVs to get even cheaper, the average age of cars in the USA has climbed to 12 years.
Maybe it's because the cars are better and lasting longer nowadays? It's always smart to wait with new technological products. Remember the LCD-TVs now, compared to 10 years ago, and their price?
@@Sendu7 I’d bet sales of EV’s in the US either declines or remains about the same as cars purchased in the US will be primarily ICE. If we sell more EV’s more states will be like CA. Sorry you can’t charge your EV today. We need this power for homes and factories. Not to mention the scramble to find enough energy to power AI data centers. The war on 24/7 power generation is starting to have casualties. In the meantime we haven’t seen any beneficial climate results. However, we are seeing some new billionaires. Maybe that was the intention from the beginning?
@@jlanetman True. EV sales are starting to 'level off' and ICE vehicles are still going to dominate sales for quite a while; if anything will replace ICE it'll be a hybrid vehicle. The infrastucture for ICE vehicles is in place and its very convenient to use, whereas EVs charging infrastucture is minimal and can be non-existent in some areas (and its time wasting to 'fill' an EV), plus the electric grid would have to be improved (and more electricity generated) to power a USA dominated by EVs. Sam mentions folks charging EVs from their home solar system, but if you have house you'll have to add the cost of installing solar on top of your EVs cost if there is no other reason to install solar.
Mine is 24 years old. Works well.
@@thorblau7943 That's part of it, to be sure. Back in the 70's the rule of thumb for upper edge of durability was 100K miles. That's steadily increased due to a combination of much better design and also cost increasing (meaning patching up vs buying new made more sense). Now vehicles are viable economically up to around 200K. You can definitely push some of them out further, but that gamb[e only makes sense if you're hardly putting any miles on it and you're willing to trade your time and skill to avoid the true maintenance cost.
Commercial fleets shed vehicles around 150K-200K because of that, they aren't truly economically viable at that point.
And I just switched from Propane to a Heat Pump. Next year my hot water heater will be switched out to electric HP. My neighbor is all for oil and gas but still bought a Hybrid with a 60Km electric range. Go figure. I have one EV but looking for a second one. Hopefully with solid state batteries. Cheers.
Just imagine what it would do to world oil demand if the US and all of the worlds developed countries ramped up their switch to EV's. Oil demand has played a very damaging part in the economies of the worlds countries.In future the wealth of the world will be more balanced as most countries have access to the sun,the wind and other ways of generating electricity.
For the switch US and EU must first invest in mining.
I know that it would be perfect for the pollution to be located in other parts of the world but it will not work.
Also more STEM graduates would help.
The gulf countries are going to have a very very hard time.
@@zollen123 I think Saudi Arabia can produce oil with 20$ per barrel.
In Russia it is around 50$.
In the US around 30$-40$.
@@plau2007There will be less mining required over time actually
@@rowanbroekman3929 An EV need twice as much copper as an ICE car.
Sorry, but if we want a green revolution we must get our hands dirty!
I never, ever thought I'd see oil at $70 a bbl while Israel and Iran were shooting missiles at each other.
Perhaps it's more an indication that the state of Israel is losing its ability to influence geopolitics, along with the fact that the US warned Bibi not to blow up Iran's energy assets because Iran countered this threat by pointing its weapons at Saudi and other gulf oil-producing states. Then, we would have had crude at USD 300 per barrel and a total global implosion all caused by the Knesset.
some runway to go .... 102mln b per day and china managing to reduce 1mn (of 11mn per day if I remember correctly) that is marginal so far in big picture. however it makes perfect sense for china to reduce it as low as they possibly can to reduce shipping and other import risks and costs.
You are quite right. We should not see any more new demand on fossil fuel as the source of power generation -- at least not in US. My friend worked on setting up power plants in US. She worked on setting up natural gas power plants in the past many years. In the past 1 to 2 years, she has been working on solar and renewal energy storages -- exclusively. The writing is definitely on the wall.
The sooner we can get rid of petrol and diesel as fuels for light transport in Australia the better. Our fossil fuels are imported whereas EVs can run on power produced mostly from sunlight and wind. It may take longer to convert heavy haulage.
Australia has plenty of Gas however successive Federal governments have allowed US multinationals to sell it offshore at unrealistically low prices starving locals of cheap clean energy, for home, industrial, light, and heavy vehicle use. LEV ICE technology, along with cleaner fuels has mitigated emissions in Australia for decades. Prime Minister Whitlam tried to nationalise Australia's vast hydrocarbon wealth in the early 1970's but was unceremoniously and unconstitutionally removed.
🌍🍾🥂 thanks china
This means big oil will be stepping up their attack on electrification and solar….
No, the likes of the recently defunct German Coalition have done a sterling job of completely discrediting the so-called 'green revolution' as rebadged soviet style totalitarian backwardation, eh Klaus?
Too little too late. The trend can not be reversed any more.
The oil industry has only have to deal with growth, apart from a short term drop in global demand during Covid. That drop showed just how fragile the industry is, a few % change in demand causes big losses of $.
How they deal with long term decline will be interesting.
I drive a PHEV and use 90% less fiel, not 50%. I only need fuel twice a year when i take road trips. Everyday i plug in and never start gas engine.
I bought an EV and haven't been to a gas station in 3 months. I see lots of folks doing it . The change is happening faster.
Thank you for using your PHEV correctly, far too many owners never bother charging at all
@@philiptaylor7902 The best way to incentivize less fuel use is carbon tax like Canada is doing. Higher gas prices at pump will make people think twice before misusing PHEVs, and they will remember to charge the car everyday.
@@i6power30 Here in the UK increasing fuel duty is politically "sensitive", shall we say. Even in the recent tax raising budget our Chancellor didn't dare go there, even though it's a wide open opportunity.
You can plug in your car everywhere in Shenzhen. Petrol car registration is costly. You have to add ¥20000 rmb minimum to get the license alone. Hybrid and ev are free near free
If gas prices in the USA fall because China is buying less oil, Trump will take credit for that. US EV adoption might slow down a bit until Chinese EVs get even cheaper.
Yup. Economics 101. OIl prices will nose dive once major glut in supply. Same thing will happen to coal too. Rocket scientist Trump says to invest on oil and coal. It's crazy half the American electorate voted for him including Musk.. What a gong show the next 4 years are going to be.
Yep, few people understand the extraordinary benefit to the US economy of cheap oil.
@@mydogsbutlerwhat makes you think it will only be 4 years
@@djt8518 2 term limit.
@@seanlander9321 Yep. Few people understand the extraordinary benfit cheap alternate energy will have on US economy.
Not only electric cars in China, all transport apart fm aviation and on water..but it's just a matter of time and engineering for those sectors.
Aviation is hard, but China is moving to electric transport for inland waterways.
Here what I understand is required for Tesla cars Transmission oils.
Tesla's do not have as many moving mechanical parts as a gas vehicles (or diesel vehicle). Tesla vehicles have a drivetrain it has a special lubricant, it’s a synthetic transmission fluid called Pentosin ATF 9. Teslas don't need oil or oil changes. However, the all-electric car's gearbox or drive system does need synthetic oil to facilitate smooth transmissions. However, unlike the standard motor oil, Tesla's synthetic oil doesn't need to be replaced since they don't break down over time.
Tesla transmission does eventually need it's fluid changing, but we're talking many hundreds of thousands of miles, probably beyond the lifetime of most cars. Using Fossil oil for plastics and lubricants is not great but it's more easily disposed than emissions and obviously it's an order of magnitude worse to burn it and chuck it all into the atmosphere.
You're seriously comparing lubrication to combustion?... Like - you're actually making that an argument?...
Golly.
That great and certainly the world needs more electric cars. But do yourself a favor and pick up a copy of Consumer reports used car guide. Telsas do not come out very well. I suspect most Telsa's get purchased largely on vanity due to their sex appeal. You'd be much better off with a hybrid or a Toyota Prius.
Tesla's transmission oil change might be as much as 20 gallons every 100,000 miles, but it's probably MUCH less. A hyper-efficient gasoline hybrid of similar size and might need 20 gallons every 1,000 miles. The Tesla EV uses less than 1% as much oil as the gasoline car, which also should have engine oil and transmission fluid changed.
Electric motors have many more moving parts than combustion engines but fewer wearing parts
I assume the air travels are increasing rather quickly though, so I doubt the oil consumption won’t decrease dramatically in short to medium term. I think the oil consumption will decrease when we reach peak oil production, and that might not be too far off.
Thanks!
Welcome!
My 2022 Toyota Hybrid is still serving me well here in Portugal. Why should I buy an EV? Or when should I buy one and why?
Maybe, just maybe, we will see OPEC finally dethroned. And not a moment too soon....
This is Houston. Marathon oil closed its over 100 year old refinery a couple of years ago because it couldn’t compete and now Lyondell is closing its refinery, one of the largest in the nation, also here in Houston. The market is beginning to shake out the least competitive oil refineries. This is how the transition started for coal as well. Meanwhile, Texas is a national leader in wind, solar and battery production. The transition away from oil is happening and we’re living it here in Texas.
Great 👍
Thank you! Cheers!
@@electricviking china is switching back to gasoline engines because consumers are sick of repair cost and and repaid depreciation low quality evs and its all being covered up by chinese government. the reason they pushed ev to begin with cause chinese cannot manufacture internal combustion engines worth a crap it requires much tighter tolarances in manufacturing they cant seem to manage.
Thank you China, you save this earth
I remember reading an article somewhere around 2015. OPEC Had been producing an extra 1mil barrels of oil to stop other nations, like Canada, from developing more expensive oil fields. This caused a glut of oil and drove prices down. In the article he had predicted the same thing would happen when eclectic cars hit a certain percentage, don't remember what the number was... What I do remember is that the price of oil would start dropping, but then it would raise because cost of production would start to raise. How long until that starts to happen... Two years?
Thats the thing with evs as oil gluts then its price drops making gas engines more competitive especially in countries that produce some.
except for rising emission standards, making stink engines more expensive to make and own regulating the poisons that petrol engines emit into the air we need to breathe.
@@snookysnax New Woke policy option: No Flatulence with EVs.
Very good advice,get out if u can on fuel fossil investment.
There are many professional investors who, as contrarians, are keenly absorbing resources like energy and metals as they consider their market values suppressed. Kondratieff?
There are so many EV’s in Los Angeles (mostly Teslas) an oil refinery near the harbor there is closing next year. The US is already producing more oil then it ever has.
The same International Energy Agency :
from now to 2030, China's renewable energy installed capacity is expected to account for nearly 60% of the world's total installed capacity.
By 2030, China will have more than half of the world's renewable energy ， and China’s solar energy output is equal to the entire nation’s consumption in the U$.
When they artificially cut oil supply to increase the price. It accelated the green transition. They should flood the market with cheap oil to entice demand.
I thought it was electric bikes that had caused a greater reduction in emissions than cars?
A combination of small electric mobility devices, tariffs, and Transportation as a service a couple years away. In North America what is likely to happen? Seems pretty clear to me
Great!
Interesting. Seems like the oil prices and demand curves for production, processing and distribution are up.
Also seems like more and more communities want RELIABLE power, with few wanting nuclear. Guess what that leaves?
what do you think of Tesla's plan to use hydrogen? From what I could see the car will still be electric powered? It would be good if you made a video about this.
It could help pay off the US national debt by taxing gasoline another dollar per gallon for every dollar it drops. Keep the price where it is and it will keep electric vehicle development and adoption going. DJT could brag that he is stabilizing gasoline prices at the pump..
Not sure hybrids use less fuel. Yes if driving around town but not long journeys as a family member found out when he bought a hybrid and it actually uses more fuel that the equivalent ice version.
India can always help, on oil demand this time.
Thanks for this Sam. If Trump does "drill, baby, drill" the oil price could plummet. It would be interesting to have some stats on annual oil usage compared with number of ICE vs EV cars - e.g. x,000 cars swapped equates to y barrels of oil per year. We could then see how long the countries totally dependent on oil exports have left.
Rocket scientist Trump can say whatever he wants. Anyone looking to expand oil (or coal) today will lose their shirt in a decade or so by which time global demand for oil will have significantly declined. Existing unconventional oil (e.g. shale oil) which makes up majority of American oil production, will be especially hit hard due to extra cost of production.. The coming glut will lead to decline in global oil prices making unconventional oil no longer profitable. The companies that will survive are the ones that produce oil cheap and even they will be reduced in size. Trump supporters may have won the election, but they cant beat the economics. It's going to be comical watching them try to explain e away their silly claims as global demand for oil and coal starts to declines.
@@mydogsbutler Please show us the strength of your convictions by revealing who and what you are currently shorting in the energy sector, especially hydrocarbons?
Where is it cratering. Argentina?
If the oil consumption will peak, the gas price will go down and will be less expensive to drive a ICE car.
What about a 2$ per gallon ?
Gas is and will become a larger piece of the energy demand pie because its effectively a transition fuel. Prices will rise because demand is incredibly high especially in Europe and Asia. But will ultimately stabilise because their will be a new 'OPEC of gas' (you heard it here first) who will do what they do with oil and try to keep it in a stable price range, but also because US shale can ramp up and down quick enough to stabilise prices, and the market will end up in backwardation.
As gas prices go down, oil and gas production facilities will permanently close. As supply drops it will drive up price again but the prices will be only sustainable at lower supply levels. Few are going to be stupid enough to invest in oil production once the shift to EVs and alternate energy tech is in full swing Especially not unconventional oil production which is very expensive.
@@mydogsbutler As "gas" prices go down demand may increase and the "shift" will be delayed putting cost pressure back on the EV/battery industry. Generous government support for EV's may also disappear, adding further woes to the industry's bottom line, while revelations about the harms caused by the massive mining required for batteries may sideline the industry before it ever gets anywhere near becoming endemic.
@@paulbo9033 "Gas" is petrol and diesel in this case. It's American speak.
@@paulc6766 No. The IEA is Parisian, the Electric Viking is Australian, and the American O&G industry refers to Gas as Gas.
The "gas" you're referring to is a term used only by the media and plebs at the pump.
Source: I work in the industry.
I bought an EV and i love it. ICE passenger cars are obsolete. China is doing the right thing. The west should learn.
Obsolete for western inner-city sybarites, climate change apparatchiks, and ardent global warming zealots but not for many other people who may not be as wealthy, politically "savvy", or fortunate.
🛢️⛽BIG OIL dont like EV's 🛢️⛽
The people who control the oil companies are not fools. They know how to make bigger profits by reducing the amount of oil they produce. Many oil companies have been reporting record profits in 2023 and 2024.
I did the calculations 6 months ago, and found that all the EV Globally were reducing Oil Demand by 1 million barrels a day. Its probably 1.4 million today. This combined with Trump unleashing US Oil & Gas drilling will significantly lower Oil Prices, making everything cheaper for consumers. Everything needs energy to be built and to transport to markets.
Market highs can sometimes be followed by corrections, but predicting the timing and extent of it is challenging. I've heard some analysts talk about a 'massive' correction. It makes me wonder if it's time to adjust my $2M portfolios or maybe even consider some defensive investments.
Consider diversifying your portfolio with a mix of stocks and stable assets. Seeking professional advice now could provide valuable insights and strategies to navigate market uncertainties and protect your investments.
I've been in touch with a financial analyst ever since I started investing. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders
I've been looking to get one, but have been kind of relaxed about it. Could you recommend your advis0r? I'll be happy to use some help.
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Thank you for saving me hours of back and forth investigation into the markets. I simply copied and pasted her full name into my browser, and her website came up first in search results. She looks flawless.
For a manufacturing country, producing oil isn't about selling it for a good price, rather it is about having cheap energy to build and create. So Saudi and Russia and Iran (Canada too) as well as other big exporters will suffer while product producers will benefit from being able to ship and create things more efficiently. Thus the US wanting to have a manufacturing boom means having cheap energy is a good thing, right?
And so it begins
Oil demand must inevitably decrease, as it is a finite resource that will become increasingly difficult to extract.
It is still an assumption that hydrocarbon resources are biogenic, and therefore claiming they are finite is flawed logic.
It Will réduc the Price of oil, so the Price of electricity, so tour bill will be lower, Oil Price is still high
Still using 95 million barrels a day... same as 20 years ago.
20 years ago there were a billion less people.
@@mydogsbutler also the global GDP grew more than double.
@@mydogsbutler 2.5 billion less.
Sounds more like a recession.
Tons of things fly in the face of trumps words lol don't soft ball it, he bankrupted 3 casinos lol
Donold will claim credit for the lower oil prices, even though has nothing to do with him.
No stopping it now.
If you drive less than 250 miles a day but a lot of miles, then an electric car which you can charge at home probably looks a very attractive option. Therefore, a relatively high mileage user faces a very attractive equation when looking at EVS. If you have an old diesel car which you own, and only purchase one tank of diesel per month because you only do 5000 miles a year the economics do not. In other words it is highly likely that your typical Tesla driver probably would have been a way above average petrol / diesel purchaser. Therefore, as more EVs come onto the roads the demand for fossil fuels will have an leveraged effect downwards. There must be an equation which would go for every 100,000 EVs that the annual demand for oil would fall by X amount. Presumably someone in the oil industry must have worked this out. It would be interesting to know what that figure is.
Sadly it is correlation not necessarily causation. Time will tell. I hope you are right.
"Stone age is not finished because we are run out of stone", same for oil industry.
You taken delivery of your G6?
I have no idea if your 40 percent is right. Let's assume it is. With all the more efficient renewable energy and battery storage coming on line, that number should continue to drop. If you assume the average life of an automobile. Whether EV or ICE, is 20 years. The percentage of EVs will continue to climb. I would think the demand for oil will drop an increasing rate. Time will tell.
The lack of global economic growth could be the reason oil demand is down.
Where and how do they get the electricity to charge their cars?
Are you really that far behind the times?
@@paulc6766 Don't insult me. I will spell it out for you. What percentage is renewable, coal, oil, etc. Do you have an answer or are you just going to troll? Do you have anything of substance to add?
@@meandshe1518 This blogger insults people because they cannot communicate and debate respectfully and effectively. I believe it's a generational event [cultural revolution] and is why the West is so full of people who, like many in the German Government, will blindly deindustrialise their country upon an alter of global warming, identity politics, and soviet style totalitarian political deadends. Yuri Besmenov said it 40 years ago.
Hey, what happened to "beautiful clean coal?"
Plus USD index up 107 making crude oil not so affordable.
Wouldn't this mean petrol abd diesel becomes cheaper, slowing the move to EVs?
If the free market mechanism works then petrol and diesel should come down in price. But I,m sure most people realise that the operating cost of an ev is way lower than an ice car.
Remember steam engines did not go extinct due to lack of coal.
This may mean less investment in finding,refining oil, which will push the price up in the future, making EVs even more economical
Difficult question 🙋
@eish3291 steam engines were developed first. However they require continual feeding in of wood or oil AND frequent replenishment of water. And they were big and heavy. OK for steam trains and mines , etc with people doing these tasks. Petrol engines were small with tanks feeding in the fuel automatically, and far more practical for cars
Under utlization of refineries, extraction, etc would increase cost of operation. They will reduce price to keep demand high but more percentage of the 80M vehicles sold annually no longer need gas to operate.
It isn't going to make sense to produce more oil in the US if the demand isn't there. A lot of the oil produced in the US is exported and reduction of demand in other countries is going to lower the prices everywhere, including the US.
IEA gets it wrong every time ... Permian has stalled out
Excellent news......I'm buying a v8
that is china effort to reduce CO2 emission! I can't see America withdrawing from Paris agreement.
Sounds like the price of petroleum is going to decrease (possibly significantly) next year.
Likely yes, but not for the reasons proffered in this video.
Could do for a period of time.
China hit Peak Oil last year, and NEVs are now over half of their new car market. China is buying far less oil, and it'll continue declining as NEV share keeps climbing. But the idea that this is somehow due to Chinese government subsidy is wrong. China spends very little cash compared to America giving a $7,500 rebate on every EV lease.
Dear Electric Viking, it would be great if you could have some more illustrations showing what you are talking about, like " ´1 million barrels of overproduction per day". As it is now, the movies are somewhat distracting, and make it harder to listen to what you say. They look nice, but that is sort of part of the problem. Well, just my ten cents, I might be the only one with this view.
The owner of this channel intends that "the movies are somewhat distracting, and make it harder to listen to what you say" because the dialogue is illogical and baseless, and does not withstand scrutiny.
While peak oil demand in China is declining, according to IEA has increased by 900,000 bpd in 2024, and is projected to increase by 950,000 bpd in 2025.
Your analysis also fails to take into account geopolitics … namely the Russian - Ukrainian war and potential future embargoes relative to Iran by the Trump administration.
a process to green
In 2030, China will produce electricity through solar farm more than US through all sort of power plant, coal/gas/nuclear/wind/solar.
Saud clan are in trouble 😂
Batteries cannot be extinguished. China is developing solid-state batteries
Not a single graph or chart?
Ta nafta će se i dalje paliti, ali u termoelektranama koje će proizvoditi struju za električne automobile, pozitivno je to što će se zagađenje zraka u gradovima smanjiti. Koliko prostora zauzima jedna teroelektrana na naftu i koliki je ekvivalent potrošnje prostora jedne solarne elektrane iste snage? U budućnosti nas očekuje nedostatak prostora. Novi solarni paneli će tu dosta pomoći, ali još nisu na tržištu. Ima tu još jako puno posla...
I don't think there is a lack of space.
@@paulc6766 Niti ja, ali nam eugeničari žele smanjiti broj ljudi na Zemlji na 500-1000 milijuna, jer oni misle da nas ima previše, i da nema mjesta. Zato sve ove gluposti oko hrane i proizvodnje hrane, koja zapravo nije hrana, jer nema vitamina, minerala i enzima.
Trump was into coal mining last time, now oil
He IS a dinosaur himself.
On the pyre with him,
@@hanswitvliet8188 Preferring "On the pyre with him," over rational civilised debate indicates potential zealotry, ideological bigotry, and pathological issues like TDS.
@@hanswitvliet8188 Also, implying that oil is biogenic is merely an assumption. The number of dinosaurs necessary is unrealistically and incomprehensibly large.
Public trnsport system is increasing world wode. This will reduce the demand of crude oil.
Great news and the results could have been even better if countries like USA and EU did not put up huge tariffs to stop affordable Chinese EVs from entering their countries. It's a case of looking out for one's own backyard whilst watching the planet die.
Tell that to the road blockers...
Really good batteries that last and a real charging network might make EVs a reality.
The chargers will need armed guards.
A glut means lower gas prices though and in countries that do not force things like china that means business as usual esp for pickup trucks which drive vehicle sales in the us and for which there is no viable ev alternative. So no this is not enough by any stretch. We don't need to just peak we need to drop off sharply with oil use in particular, of all fossil fuels, to finally pivot
So it is simple:
1. Buy a house
2. Put solar on the roof
3. Buy an EV
For those who don't have a house yet, just get one soon ok!
Don't forget battery storage.
Assume you are not in an Australian capital city. Even professionals are priced out of the housing market.
about 2/3 can own a house. about 1/3 can't.
So we need leased, rented homes, condos, and apartments to start coming with ev charging built in for folks who can't own a home.
It’s so simple:
Be rich
Own a Tesla, added PV panels last year and adding some PowerWalls Q1 of 2025. We were forced to take our RMD’s (didn’t need the money and we stopped traveling after COVID, so that money was MAD money) plowed it into our home to create an ISLAND.
Cheap oil means cheap gas
Russia is building and paying for a huge pipeline to China. It would be sweet if they finished it and then China rather than demanding oil below the cost of production as of now simply said 'we don't need any'. Huge amounts of money and Russia has to swallow the entire cost as a loss. That would be nice.
Schadenfreude on Russia is one thing, but merely hoping that their prudent, well-negotiated, and efficiently executed infrastructure investments with their major trading partner and geopolitical ally would fail is hopelessly unrealistic. Investing successfully in energy markets must go beyond personal preferences and biases. Gas, as we all know, kept German Industry ahead until Merkel and her successors denuded that country of its right to Industrial strength with disastrous consequences. Woke green energy policies have dubiously arrested many Western nations.
Any pipeline already built in Siberia is going to be wrecked by subsidence as the tundra thaws anyway. Which also will cause massive natural methane releases, but that's nothing compared to what happens when methane hydrates in the oceans evaporate.
@@warheadsnation This comment is based on many different assumptions and is emotionally provocative, but not truly scientifically based. Thus it is more like green "global warming" propaganda, which seems to be this channel's raison d'etre.
Game changer will be tesla cheap car oil will only be used as a lubricant 20 years grom now
Cheap oil ? and fewer 'oil wars ' ? and less pollution ? sounds smart to me ?
Synthetic diesel will be competitive in a few years
In a few more years, electric semis are going to start taking a huge chunk of marketshare from fossil. Musk'ssSemi is going to be a major distrupter in American semi industry but the Chinese are probably going to be the biggest in the world . The US shot its own economic interests in the foot by sticking with oil instead of going all-in with EV and alternative energy tech like China has done.
@@mydogsbutler Can you please be a little more specific than simply "In a few more years"? My understanding is that haulage, which uses far more hydrocarbons than light, private individual transport, is less likely to be easily electrified if at all. What about other alternatives?
Competitive with what?
I too want to hope with you, but...
In 2023, the world produced 96.4 million barrels of oil per day. 1,000,000 barrels is just slightly more than 1% of daily production, a reasonable fluctuation.
The following is AI generated...
The theory that increased resource efficiency leads to increased resource consumption is called the Jevons paradox. The paradox states that when a resource becomes more efficient to use, the cost of using it decreases, which leads to increased demand and consumption.
The Jevons paradox is difficult to test empirically, but some say it could have significant implications for climate and energy policy. The paradox can be seen in many situations, such as:
Water usage: As water becomes easier to access, people use more of it.
Productivity tools: While productivity tools can help people get more done, they may also make people feel busier and more anxious.
Digital technology: While the energy efficiency of digital devices has increased, the total amount of energy consumed by digital technology continues to rise.
The effect of increased resource efficiency leading to increased resource consumption is also known as "rebound". When increased consumption more than cancels out any energy savings, it's called "backfire".
Should I buy PUTs options against oil?
No, like many professional investors, go long.
If some Americans could only channel their negativity and politicizing of battery EVs to creativity, imagine what our world would look like. The truth is that no matter what the new administration does, EV proliferation is inevitable as China is leading. This reminded of coal. Resistance is futile.
Automotive Oil consumption in the US peaked in 2017 and has been flat ever since, even though there are 16 million more cars registered since 2017. Trump may setback EV adoption rates in the US for the next 4 years, however it can't be stopped now. In the coming few years EV's will have Gen 2 batteries with more range and faster charging, making even PHEV's uncompetitive with BEV's.