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RE: What Are The Chances Of Oil At $230 Per Barrel?

in LeoFinance3 years ago

The markets might go crazy artificially or not, but I think that all the negatives might get to the surface with some positives like a faster adoption of electric cars or other alternative solutions. I would say people already moved to this direction and that should provide some relief on the price, but not sure if fast enough.

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The problem with the adoption of EVs is the fact there will not be enough made. How many might there be built in 2023 if the price of oil goes up? There will still be less than 10 million (out of the 80 million or so sold globally each year).

It is an industry that is production constrained.

Also keep in mind that Russia is also a big supplier of materials that go into batteries.

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