18.4 on Friday but surprisingly no result out yet for Saturday. Forecast is 19 for today and 20 tomorrow
Last 9 months I've been intensively researching EV global developments. The amount of investment pouring into the industry is staggering. It is going to produce another base metal super cycle. Aust is that far behind the 8-ball it's a joke. SYR is my EV stock atm. Bought them last April as they were heavily discounted and with patience I could see the company being resurrected. Not unlike COE.
Looking for a good nickel and copper stock atm. Running the numbers over IGO and OZL. Put a mate into ACDC ETF for his super. Month later he bought some more.
The reason I got back into COE after 10 years apart from the fact they were dirt cheap, is gas will be part of the renewable energy mix as coal power stations are phased out. Going to need a secure power generation source which can be turned on/up and off quickly to back up wind and solar increasing demand for gas.
In 10 years, not here, EV's will be a income generating mobile power source when they figure out the chemistry to increase battery density. The vision is when people drive to work in the morning, every office basement and parking station will have electric plugs to attach to your electric vehicle or if you work from home you just keep it plugged in.
When industry starts up in the morning and air conditioners etc are turned on in office blocks, demand and therefore tariffs for power will be high. A lot of the required power will be extracted from millions of EV's sitting idle for the day and recharged at lower tariffs in the middle of the day and early afternoon when the sun is powering all those rooftop and solar farm panels.
You'll be able to program your car to stipulate how much charge must be left in the car so you can get home etc in case it rains or you want to take it out at lunch and recharge overnight using mains (wind and gas) at lower tariffs. The plan is to have an integrated system, meaning EV owners will have solar panels at home (house and units) and a power wall.
The required infrastructure to make this happen will be massive as well. Countries and some US states, most notable California have banned the sale of ICE (internal combustion engine) vehicles from 2030-35 and some have who already have them, have already pushed the dates forwards. I envisage, depending on how their progress is to meet their climate targets, for more countries to join in and existing countries to keep pushing the dates forward. Would not be surprised if the EU mandates a by date for all countries within the EU.
Just to mention a few, VW has said it will invest $56B and GM $36B in EV production conversion by 2025. GM said at the Consumer Electronic Show just finished, it will have 36 models in production by 2025. Ford isn't too far behind. It's what they both decide to do with their pick-up range along with Biden, will determine how fast production will increase and be moved forward.
So in summary, I can see gas being used for power generation into the foreseeable future. LNG demand will remain strong continuing putting supply constraints on the domestic market. Good chance it may grow as developed countries in Asia continue to move swiftly into renewables and shutdown their coal power stations.
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