Interesting piece and most of what he says is true. I believe his implication that the 9 million barrels per day of demand will continue is wrong. Yes, it has lasted for 30+ years, but that was BEFORE the push to EV’s gained any real traction. I agree with him that oil and ICE vehicles aren’t going away any time soon. However, as I pointed out in a recent post about gasoline demand, rideshare drivers and long commute drivers are increasingly switching to EV’s and or hybrids. Gasoline demand is not going to stay at that 9 million baarrel per day figure. It will decline, maybe slowly at first but it will decline over time. I am not making a case for, nor against, oil and oil related stocks. As he suggests, given their relative discount to basic investment metrics, they may actually outperform especially if the stock market backs off from it’s current run. I just don’t believe the massive move into EV’s(however long it may or may not run) won’t at least dent gasoline consumption levels. https://robertbryce.substack.com/p/fire-sale