Its Over, page-22760

...now you hear people snipe at 'lithium is dead' when once people also said 'oil is dead'.
...just voices of frustration (former), overprojection (latter)
...none are dead and both are here to stay.
...demand destruction can affect both, and demand for oil will be impacted by the EV transition (which is a certainty, just a matter of time).
...Oil stocks can make money from production, but there is no 'growth narrative' which is essential to fuel a long term rising stock trajectory.


BP's 2024 Energy Outlook is out, and BP has oil demand peaking soon and then declining more than 20% under current trends.
But the decline is not big enough to reach Net Zero by 2050.
Even BP agrees oil industry's future is one of decline. How fast & how big will the fall be?

https://x.com/johnrhanger/status/1811064717718282437