Its not just the advent of electric cars that will hit oil consumption!!!
I work in the electrical industry and already overseas utilises are seeing a significant impact in their business plans due to the battery evolution being installed in the domestic solar energy market.
In Australia this isn't going to hit the oil industry (our electricity is mainly generated by coat) however overseas the electric generation industry is a large consumer of gas and oil.
This is why I am also investing in the graphite carbon industry!!!
HKP
Why $20 predictions are wrong., page-37
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