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re: Bloomberg: Big Oil Goes Looking for a Career Change
Posted on 9/16/20 at 2:26 pm to rickgrimes
Posted on 9/16/20 at 2:26 pm to rickgrimes
O&G is going to get hammered over the next 10 years as more and more electric vehicles come online
12
Posted on 9/16/20 at 2:27 pm to crazyLSUstudent
quote:
O&G is going to get hammered over the next 10 years as more and more electric vehicles come online
Posted on 9/16/20 at 2:27 pm to crazyLSUstudent
Powered by electricity created by gas fired plants, via batteries created by gas fired equipment
This post was edited on 9/16/20 at 2:28 pm
Posted on 9/16/20 at 2:28 pm to crazyLSUstudent
quote:
O&G is going to get hammered over the next 10 years as more and more electric vehicles come online
They'll get hammered because we've temporarily hit a peak in aggregate demand while they simultaneously have never had cheaper means to extract it.
Posted on 9/16/20 at 2:31 pm to crazyLSUstudent
quote:
O&G is going to get hammered over the next 10 years
not sure about 10 years but my company's outlook is it will not be over $50/bbl through 2022. which sucks for us.
Posted on 9/16/20 at 2:34 pm to crazyLSUstudent
quote:
O&G is going to get hammered over the next 10 years as more and more electric vehicles come online
And where will the electricity come from to charge all these vehicles?
Natural Gas power plants are the most efficient plants for making electricity and it's not even close. You can't charge an electric car with a football field of solar panels much less all the other electricity needed to maintain society.
Ask California how their "renewable clean energy" is working out for them. They are literally begging people to not charge their Teslas, rolling blackouts, etc.
O&G won't be going anywhere for a very, very long time.
Posted on 9/16/20 at 2:35 pm to crazyLSUstudent
Lol
Posted on 9/16/20 at 2:39 pm to crazyLSUstudent
quote:
O&G is going to get hammered over the next 10 years as more and more electric vehicles come online
Posted on 9/16/20 at 2:39 pm to crazyLSUstudent
quote:
O&G is going to get hammered over the next 10 years as more and more electric vehicles come online
We probably have hit peak oil consumption in this country but it's not going anywhere. China and India are probably nowhere close.
I think it will take a lot more than 10 years for EVs to become even a majority of passenger vehicles. I'd say 20-30.
This post was edited on 9/16/20 at 2:42 pm
Posted on 9/16/20 at 5:14 pm to crazyLSUstudent
quote:
O&G is going to get hammered over the next 10 years as more and more electric vehicles come online
And where do you think that electricity comes from?
Natural gas.
And where does natural gas come from?
The same wells that crude comes from. The crude to gas ratios vary but they come from the same sources.
When you extract crude and natural gas together you don’t just pump the crude back into the ground. Especially considering you have the means to pump directly to refinery via pipeline.
If anything, more electric cars means higher natural gas demand and lower gasoline demand. Which also means higher electric bills and lower gasoline prices
Posted on 9/16/20 at 5:21 pm to crazyLSUstudent
Electric vehicles that require fossil fuels to exist. And fuel. And maintain.
O&G isn't going anywhere.
O&G isn't going anywhere.
Posted on 9/16/20 at 8:35 pm to crazyLSUstudent
quote:
O&G is going to get hammered over the next 10 years as more and more electric vehicles come online
Sure they are people are gonna love those electric cars that go 300-400 miles and you have to stop to charge for a couple hours then after 5 years they can only go half as far before needing a charge. Think cellphone baw buy you a $50k car that only last 5-8 years sounds wonderful.
Posted on 9/16/20 at 8:49 pm to crazyLSUstudent
quote:
O&G is going to get hammered over the next 10 years as more and more electric vehicles come online
You all downvote but......
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