i love this share, page-12

I don't seek to suggest that your noted contributor is wrong. I recall back in the early 1960's here in Australia , the then Federal Government (Menzies) informed BHP who were looking to get into crude oil exploration in Australia that there was no oil in Bass Strait. BHP was told that they should explore the Sydney Basin instead. Fortunately , for Australia , BHP chose to take the advice of Lewis Weeks , forego federal tax benefits and went for the Bass Strait prospect.
The 5% Weeks Royalty , like the Hancock Royalty, has generated several billion in revenue.
The other piece of free advice from Lewis Weeks , a sort of throw a way line , was that the main oil deposits ( greater than North Sea oil finds) were off shore in the depths of NW of Australia.
The other piece of advice from Lewis Weeks back in about 1968 was his assessment on the total oil resource in the world of around 3 Trillion barrels. The bulk of which were offshore around the globe in deep water.
Markets like China. India, Central and South America and Africa will continue to seek increased demands for crude oil. But developed countries will I believe see a considerable abatement in total crude oil usage.
The same applies to a commodity like coal. I see a growth in electric cars but I counter that view with the sheer volume of electricity needed to recharge such vehicles.
For example there are about 4 million cars in Victoria, Australia. If say by 2030 , 50% converted to hybrids etc, where will the night time power come from to recharge 2000000 cars?
Given the poor state of this Victoria's power grid, I think the State will have to go back to more coal generation not less.