I do agree with some points. But west did not go all in renewables, the west just did not invest in fossil fuels like it should have.
Without looking at all non energy oil/gas uses lets look at vehicles number needing refined products
1.5 billion vehicles are in use 2021 of which non are two wheeled. 70 million new ICE vehicles are added every year 2 to 5 million (depending how generous the matrix ie is ev scooters included) added a year
Opec and Russia are steady producers
West has being shutting down oil, gas or coal industry (fields, exploration, refining) without any thought or vision
USA should be the biggest producer,
EU have plenty of gas and oil in North Sea (EU)
Australia (though small in reserves but put in for context) with underdeveloped north and bass gas field and shutting down refineries
China is a net consumer of oil products
Add up the above points OPEC and Russia didnt pivot to China, the west wasn't blind sided, The west got caught out on silly green mantra and no dirty work in our back yard.
Having said above this is great news for SYA and all Lithium plays but the short term is unknown.
Not sure if anyone lived though 18 per cent mortgages and 11% unemployment but I was graduated high school in 1992 and lived through 1980s with my engineer father losing his job, taking on multiple part time jobs, mother working parttime for the first time and selling our house. I was old enough to know what was going on.
We got over it but it was tens years before we bought a new car. That is what a real recession is and where the price of oil is it could lead us there again.
(20min delay)