Yeh Saudi's might be a little worried. Low Oil prices and by the time it gets back up it may be on declining volumes as this EV trend gathers momentum.
Just when they're getting accustomed to multi-billionaire lifestyles, they are reduced to mega-millions. Can get damn tough at the top.
But seriously, hard to subsidise a whole country in the lifestyle they are used to on declining profits on your major goods. I suspect that's why they currently won't drop production, they just need the cash to keep it all ticking over while they figure out how to stop it imploding in a decade or so.
GXY Price at posting:
$2.47 Sentiment: Buy Disclosure: Held
