Oil breaks above $50 for the first time since February

"oil isn't far behind"

that's fantasy land you are living in there. US emissions only went down 6% during this pandemic.

World wide we are still estimated using 94 million bbl of oil per day. DURING THE LARGEST PANDEMIC IN 100 YEARS....

There is no tech that changes this. Not any time soon.

Oil is not used for electricity much. Gas cars are only part of the equation. You can literally not go five seconds without touching something that oil produced.

Petro chemicals have actually been the biggest driver of oil demand growth. The world is very big and middle class is also growing rapidly. These people want what American's have had for 100 years.

Excess...

Oil is literally going no where and to pretend so is far more dangerous than facing that reality.

The only way we beat climate change is with carbon capture and geoengineering. We are not going to stop burning oil. Not in your or my lifetime.

It's not even comparable to coal. It's still literally the most important commodity to human kind.

/r/investing Thread Parent