The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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The stone age did not end through the shortage of stone. Renewable energy is the future, we can all surely accept that to be the case. Internal combustion engines will be around and in daily use until there is not just sufficient charging capacity but also the time taken to a full charge is comparable with that for existing vehicles.
I remember Blade Runner 2049
By 2050 we will all be in flying cars. Hasn't the Jetsons taught us anything.
TC. The other thing which is often overlooked by 2050 there will be another 2 billion people on the planet mostly in second and third world countries and they won’t be going electric anytime soon.
Shell cut their dividend (66%) along with all major oilers and is suffering because of low demand and oil price. They will gradually put it up over the coming months and years and the share price will rise with it. They wont have the share buy backs to worry about which they spent millions on and therefore lifting the divi isn't going to be that difficult.
It is easy to think if you are based in the UK that oil use will decline dramatically in the short term but that is just not the case. Those who believe declining smoking habits in the UK is representative of the prospects for tobacco companies globally are going to make the same mistake with oil.
The nauseating 'woke' narrative of 'save the planet' and those who subscribe to the Edmund Burke school of thinking have sadly got ahead of themselves. Battery cars are never going to work in the UK until the National Grid can deliver more power to every household than is required for the planned exponential growth in demand for car charging. That just isn't happening.
In the 1970's the National Grid planned extra power supply (coal powered!) to come online at around 7.45 pm on Monday and Wednesday weekday nights to coincide with the advert break in Coronation street when all of those people watching the grim northern soap got up and put the kettle on for a cuppa before returning to watch the culmination of the UK version of an ultra depressing Greek tragedy. Something similar will be required on a scale never imagined and certainly not currently planned for if we are to charge all these cars, soon to be humming along our roads, at night, when they get home. Unless of course, power cuts when demand outstrips supply and load shedding are going to be acceptable?
Those with well maintained Petrol and Diesel cars will be watching on and laughing as the value of them is driven up because we will not be replacing them with new versions. They will still be free to drive where they want, when they want.
10 years from now in winter, we will be held up on motorways by people low on power trying to make it home at 40 MPH with the heater off. Those idiots who drive at ridiculously low speeds on motorways now drive us all mad as they try to achieve maximum MPG but that will pale into insignificance compared to the chaos that will be caused by people trying to make it home or to some far destination without stopping to charge. (BTW you can't tow most electric cars without damaging them, they have to be lifted onto a trailer!!!)
When you have a domestic emergency now, you jump in your car and go to A&E or wherever without thinking. Imagine needing to get somewhere as a matter of life and death and just having to sit around to get enough charge to do anything!
Oil is king for many decade to come.
https://www.brainyquote.com/quotes/edmund_burke_100421
AIMHO and DYOR