There is massive room for oils recovery, and a multi-decade...

There is massive room for oils recovery, and a multi-decade timeline for this business to run when you consider other industries.

Here are a few data points which should bring some comfort to those thinking with a 6 month - 12 month horizon.

Image 1 - from the weekly EIA report. We are now closer to the 5 yr average in reserves than we have been in the last 2 years.



Image 2 - by 2040 electric vehicles are expected to only account for ~35% of new sales. Bloomberg.




Image 3 - EIA report. Electricity generation from renewables and hydro still account for less than 20% of all electricity generation, despite the press this has received. Worth noting this is America only, the rest of the world is no where near this scale.




Image 4 - World consumption of oil continues to grow.





Hope this brings some cheer to the Good Doctah.

Keep exsacisin da patieeeance an b listenin ta da funky rhythms a da Bob Marleymon!!

It's sunny outside with not a rain drop in sight

NOTE: Graphs to come. Issues with posting from an iPhone