2 replies to this topic

[eds]

Wermuth Asset Management (WAM), said
. . . Solar power is now available at $3 cent/kWh,
. . . which is equivalent to oil at $5/barrel.

So, continued investment in Oil and Gas exploration would only make sense,
. . . if oil majors and oil producing countries were to develop new projects,
. . . that could output at less than $5/barrel.

The lower oil price environment has reinforced that trend, with at least
. . . 95 US oil companies going bankrupt.
This has made the financial community wary,
. . . of investing in fossil fuel exploration and production.

Globally, combustion engine cars are increasingly uncompetitive with their electric counterparts.
. . . In Europe, some are now used to feed power onto the grid.

Economic models built on oil wealth are flawed, and
. . . a commitment to developing a renewable power infrastructure will be critical,
. . . for weathering the impending storm.

11-14-2016 Source:  Could Oil demand fall by 2018?

[still learning]

Worth noting that the article you've linked to is titled "Oil demand growth could fall below 1% by 2018."  Decreased demand growth.  The article says actual demand might fall by 2020.

[eds]

"OPEC expects demand growth to slow from 1.3% this year to 1.2% next year.
. . . WAM’s research indicates that while oil supply might not peak in the next few years,
. . . peak oil demand, and negative demand growth is likely to occur.

WAM believes this will happen more quickly than the oil industry expects it to,
. . . with demand growth falling below 1% by 2018, and
. . . becoming negative by 2020."

Gas prices are going up here, and
. . . I expect my Oil heating bills to rise this Winter.

Maybe Tesla can make products,
. . . cheap enough to be affordable by 2020,
. . . so this will happen by 2020.
They seem to be buying a German Co.,
. . . that makes machines, that automate,
. . . better than anyone else,
. . . to cut the end products prices.