Agreed but we also need to be aware of the cost and energy spent in producing gasoline from crude oil. Exploration drills, rig Drill, rig pump, Transport, refinery,transport again, gas station expense and finally the pump to the tank.
Petroleum lovers alway like to make the claim that EV's run on Coal and dirty energy. They always want the argument to start at a full tank in the car for gasoline but lithium powder for EV's. Solar and wind will put the nail in the coffin for coal in the next decade. Oil will always have a use, just not in the volumes we use now.
GXY Price at posting:
30.5¢ Sentiment: Buy Disclosure: Held
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