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Oil prices are set to rebound : Comments
By Nicholas Cunningham, published 20/6/2017A contango, in which near-term oil futures trade at a discount to futures dated further out, is a symptom of oversupply.
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When the massive Edmonton reserve comes on line they may decline even further?
I see China is set to manufacture around or over a million electric cars and just this year! With new cars with a very useful range costing as little as 17,000 USD? With serious production ramp ups in prospect!?
Meaning other car makers will have little choice but follow? Thereby adding more over supply to an already over supplied hydrocarbon market!
It's said a fool never learns and or, if you can't beat them, join them.
The future is indutably electric and will allow competing nations to remove the vulture like claws of the oil Oligarchs, from their economic short and curlies!
The pioneer economies will prosper the most as we transition away from hydrocarbons to something else! That something else is going to be cheaper than coal thorium, and used in walk away safe, molten salt reactors, or in motor vehicles as laser actuated electric power plants?
And I have some, how too, ideas. That involve specifically placed, pole opposed electromagnets interacting with several specifically placed, triangulating spectrum specific laser beams inside, a sub zero, shielded, hardened titanium oxide ceramic shell! And only needing to be refueled once every hundred years!? When all the energy in around 8 grams of thorium has been completely depleted!
I'll Tell you more when I have the international patent registered. Or now, lock, stock and barrel, for five hundred million, cash or gold.
That aside,new batteries will double present range to say one thousand miles and a recharge to 80% in the time it takes to have a leisurely coffee/comfort break.
Fools never learn! Even so the average Joe will vote with their feet and away from ever increasing price gouged gasoline, in favour of something that will still be drivable when passed onto the grandkids?
Alan B.