Oil Demand and the Tipping point…

To me the recent brew-ha over oil is just a knee-jerk reaction to Trump’s mistake of letting Netenyahu run American Foreign Policy. I expect that the biggest effect, long-term, will be something like the effect of Covid, people started working from home. In terms of this disaster, it is people are finding out that they don’t want to be dependent on so much oil, electric vehicles are surging in usage, farmers are finding they can use new soil strategies that use a lot less fertilizer, the tipping point on oil dependence was maybe five years ago, now it will accelerate its downward demand slide.

Everybody thinking that this is about oil supply will find in retrospect that it was really about oil demand, that is why we didn’t go to $ 200 oil, the target of all the oil junkies.