i love this share, page-10

I am of the contrary view about the long term value of oil. By oil I refer to crude oil in the ground.
I conclude that following the reign of Bush the Younger (BTY) farmers and shale oilers were put into the world production window in a big way. So much so that crude producers like Saudi Arabia went on a production spree to make the BTY shale and bio producers unprofitable. The write downs by BHP of its shale deposits by some $3 Billions is a small example of the impact of the production war. [ don't forget Queensland has large deposits of shale- remember SPP and CPP ].
Sugar and Corn farmers in the USA continue to produce ethanol unabated, thanks to the benefit of BTY subsidies.
It is true Electric Cars are still to make an impact on sales . Time Magazine reported recently in the USA that during the first part of 2016 , of the owners of hybrids and electrics trading them in for a new car- some 75% chose a gas guzzler.
Despite this reverse in sales, manufacturers like Ford, Toyota, etc are all working on new engines, batteries storage etc. Ford predicts by 2025 no new car will likely have a steering wheel nor pedals.
USA fuel reduction laws have seen huge improvements in MPG figures with the Ford F range improving from 20MPG to 26.5MPG. These are small but significant figures.
Once Crude oil producers attempt to regulate production and force prices to rise - Shale and bio producers will come back into the production equation and see both output of product and prices under pressure.