joint letter to shareholders, page-17

Look guys This is contrarian and I am suggesting things outside the square though if you take the points on board I can also respond to what has been suggested.
Saudis can still control the price low by maximising production.
I agree that exploration has reduced massively.
I did mention bounces and also note that Saudis and Qatar for a couple have expanded exploration activities to capitalise on the bounce when it comes.
Transition to elecyric cars will definitely take some years however if I was china man I wouldnt be producing any hydrocarbon engines ..cant speak for them though.
If tesla gets out 270000 in 18 mnths what does it look like in 10 years.
World has a glut of LNG ..power stations love cheap LNG and dont need oil which kar have a measly 130 million barrels and we think its smart to go and buy more..I think thats crazy and happy to be told otherwise.
If oul goes up saudis smash it down at their leisure allowing shale ops to rwstart the over supply the market again.
World is awash with conventional and its cheap to supply via saudi iran and iraq then unconventional does get cheaper but adds to the problem.
One point made is that there is fear of recession in the states wrll my mail says otherwise but europe is in deep shit on many levels and china will take a few years to transition and expand their economy.
Still struggling to see a positive medium to long term case for oil and associated case to buy more of it in Kars case. Long term LNG to me looks way better so what you say ?