Spot on. Living in rural Thailand where nearly every 6 year old rides an ebike to school. Parents ditching the old diesel SUV for a more economical Chinese EV. Meanwhile foreign auto companies like Toyota, Mitsubishi, and Isuzu beg the Thai government for bailouts.
>> Global demand for oil will peak by 2030, and then decline. These estimates continue to be revised forward.....
There is another group of expert estimates, about 'a Little Ice Age associated with Grand Solar Minimum,' that is supposed to reach its apex between 2031 and 2043. Depending on how true they are, the global demand for oil may peak a decade or so later.
I've just read in the latest Global Times about the Sangbengzi tricycle which is sold in large numbers for all sorts of purposes in China and India and Africa for farmers BUT also in the USA as it can carry lots of stuff plus several people and is strong and becoming popular in the USA. People soon catch on when a product is worth having.
Which tells me that most trading for oil is being done for forward dates (or strings of forward dates) at prices $10 lower (and at times $20 lower) than spot prices. And that most oil trading is done at extremely stable long term rates with just the odd shortage or surplus being traded out at very volatile spot rates.
Spot on. Living in rural Thailand where nearly every 6 year old rides an ebike to school. Parents ditching the old diesel SUV for a more economical Chinese EV. Meanwhile foreign auto companies like Toyota, Mitsubishi, and Isuzu beg the Thai government for bailouts.
>> Global demand for oil will peak by 2030, and then decline. These estimates continue to be revised forward.....
There is another group of expert estimates, about 'a Little Ice Age associated with Grand Solar Minimum,' that is supposed to reach its apex between 2031 and 2043. Depending on how true they are, the global demand for oil may peak a decade or so later.
Links to sources :
https://www.researchgate.net/post/Modern_Grand_Solar_Minimum_2020-2053_Will_Modern_GSM_counterpoise_the_signs_of_global_warming_for_the_next_three_decades
https://solargsm.com/
https://www.youtube.com/watch?v=SawIG4TNpHQ
Electric scooters are NOT e-bikes. Those are two different things.
I've just read in the latest Global Times about the Sangbengzi tricycle which is sold in large numbers for all sorts of purposes in China and India and Africa for farmers BUT also in the USA as it can carry lots of stuff plus several people and is strong and becoming popular in the USA. People soon catch on when a product is worth having.
OMG - a blogger who does not tell me the oil price is about to hit the moon!!!
What Sanity.
It is almost as though you have seen this chart
https://www.tradingview.com/symbols/NYMEX-CL1!/forward-curve/
Which tells me that most trading for oil is being done for forward dates (or strings of forward dates) at prices $10 lower (and at times $20 lower) than spot prices. And that most oil trading is done at extremely stable long term rates with just the odd shortage or surplus being traded out at very volatile spot rates.