No need to listen to the BS of those shorters here.
Yes it's frustrating to see the sp price at this level but we just need to listen to what the authorities say.
Here is what the only unique unbiased authority IEA (International Energy Agency) says;
This report was published by IEA in May 2024 I think. Hundreds of people who are experts in their area contributed to this report. If you download the PDF version of it you will see more. I think this report was mentioned here before but I recommend everyone to read it again even though it's quite a long and comprehensive report. IEA never makes BS.
"Tight margins, volatile battery metal prices, high inflation, and the phase-out of purchase incentives in some countries have sparked concerns about the industry’s pace of growth, but global sales data remain strong. In the first quarter of 2024, electric car sales grew by around 25% compared with the first quarter of 2023, similar to the year-on-year growth seen in the same period in 2022. In 2024, the market share of electric cars could reach up to 45% in China, 25% in Europe and over 11% in the United States, underpinned by competition among manufacturers, falling battery and car prices, and ongoing policy support."
Now China has reached to 50% after this report.
You can find many graphics and statistics in that report. It's a really a very important report. Do not believe to those BS talkers including GS, JPM, etc.. kind of instos. Just do your own research.
The other BS talked here is that Merc, BMW, VW are all turning back to their ICE vehicles! That's total BS. They can't do that. There is no way of going back. They have to do something and make more and better EVs. They might try to save some time by making that kind of BS but they have no choice other than making EVs. The Chinese are now even making flying EVs... LOL... How would I believe the German companies won't make EVs and will go back to ICE or delay making EVs. LOL. That's ridiculous.
Guys.. the climate change is hitting more and more every day. I think many people still don't understand the magnitude of climate change. I was in the Med in June and July. It was like a hell. Not only the Med was burning but all of Europe including Germany, Hungary, etc. Spain, Italy, Greece were all like hell. Even the temperature was 32 degrees in London in the morning to days ago when i was talking to a friend there. China was the same. The flood in China killed around 500 people in last month. It's a big issue now. It will be worse every year.
Therefore people who don't believe the climate change are now starting to believe it a little bit more every year. However we don't have much time because it gets worse and worse every year. 2023 summer was the hottest summer on the record. I think 2024 summer will be the new record.
Carbon emissions because of fossil fuels are really huge. Just one plane from Beijing to Berlin burns 100 tonnes of jet fuel in one shot. That is just one plane! Can you imagine the number of planes on the air at this moment? We are killing the world by using fossil fuels.
That's why we have to act fast and reduce the fossil fuel usage as quick as possible.
So if one comes up and supports the ICE vehicle usage by any reason that person could only be an evil because we have the EVs now. We still have to use those planes for travelling long distances. I know it's really bad but unfortunately there is no other option atm.
I can't even think to buy a new ICE vehicle if I'd buy a new car. it'd be definitely an EV. I'm sure a lot people think like me.
And yes we are here for the long term. It's already been 5.5 years for me in LTR. I am still patiently waiting.
LTR Price at posting:
78.0¢ Sentiment: Hold Disclosure: Held
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