I ran a scan of the whole of the ASX companies to find the best...

I ran a scan of the whole of the ASX companies to find the best value companies and i had to filter out oil companies as they clearly topped the list and already invested largely in oil.
A lot of oil companies have been affected by the negative false narrative about oil.
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EV Cars.
Every energy conversion process loses energy, non is 100% efficient.
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Imagine if use your car during the day to get to and from work, you can cant charge it during the day with solar(your at work or if you live in a apartment)..you can only charge it from the grid or from a charging station.

Most electricity is generated from oil and gas whilst coal is being phased out.
Their are 13 energy conversion process for charging from the grid is :

Table of very rough estimation of efficiency conversion process used to go from oil in power plant to EV cars moving on road. Their are 13 conversions each adding their own inefficiency.



EV cars final efficiency from oil to motion is from 21 to 26% efficient,
Plug your own figures into the table, but i googled these from real world research, not sales pitches.
the 56 percent for power stations includes the whole process up to entering into the first transformer.
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Currently if you look at the energy conversion cycle to power cars and do some basic maths it does not look that efficient.
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	diesel engine	0.33	0.6

A old Diesel engine is around 33% efficient and the theoretical maximum efficiency is 60%
Petrol cars are less efficient.

Even if the figures in the first table are not accurate , their is a marked difference in efficiency.
So if more people switch over to EV cars then demand for fossil fuels will increase.
Interesting records are showing that demand for oil overall has and is increasing.
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As Lithium batteries age, their efficiency drops of .
In colder climates batteries become less efficient.
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Also EV Charging stations store Energy in their own batteries, and again these introduce a loss's that get worse over time as the batteries age.
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The picture is more positive for EV charged from home solar.
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So if EV takes off big time it will raise demand for oil and gas, unless the world goes towards nuclear a lot more.
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This is probably why we haven't seen world oil consumption go down(excluding covid period), but continue to increase.
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