Hey Tui, i am curious what is your rational for oil going $70? It is my opinion that it will top out at $50~$60 simply because of 2 major reasons:
1. although oil use in transportation industry is not a big chunk of what oil is used for (common misconception), there is a clear trend towards moving away from petroleum/diesel based vehicles.
2. a big focus towards clean tech particularly in the battery space.
I think (2) will be the killer for the oil industry because once someone figures out how to store the energy per density equivalent of oil, all manner of industries will gravitate towards clean tech being main stream. It is my opinion the uptick of that is happening as we speak.
Hey Tui, i am curious what is your rational for oil going $70?...
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