Posted by Tobby > 2022-06-29 12:51 | Report Abuse

Currently high oil price is actually a mirage! There's no shortage of oil! Just producers were caught off guard during Covid! And then the world reopens early this year and kaboom, demand suddenly surge!
But current oil high wont' last long! Max 2 years! And already tapering now as more and more deep sea rigs are supplying oil!
The thing is, oil industry is also facing dwindling demand in coming years!
This year alone, 20% of new cars are EVs! Even the most optimistic forecast were easily defeated! Many thought EVs uptake will take years and yet the EVs sold today is far more than predicted!
Thailand, Vietnam and Indonesia already far ahead of us! Malaysia is actually way way way behind in EV revolution, that's why we don't realise what's going on!

Posted by Tobby > 2022-06-29 12:53 | Report Abuse

And now for Exxon CEO actually predicting demise of ICE cars is something else!
I mean, pro EVs would be the first to issue this grim scenario for ICE cars! But no! This came from Exxon CEO! From oil giant!

Posted by Tobby > 2022-06-29 12:55 | Report Abuse

Imagine even current EVs are already superior to ICE cars! CATL just announce battery pack that can give 1000km range! which will be new normal decade from now!
I mean, why drive ICE cars when you can get far superior EV cars!
Decade from now, you and i will find it disgusting to own an ICE car! Yeah, too much maintaince, smelly fume, and smelly petrol! Nobody wants them decade from now! It's like a joke if you still hold on to them!

Posted by Tobby > 2022-06-29 12:57 | Report Abuse

What i am saying is that, oil industry is going to join the sunset industry! Probably 3 years from now!
This current high oil price will be foot note in human history! Yeah, imagine our grandchildren laughing at current generation for using ICE

Posted by PunTatBerSiul > 2022-06-29 17:36 | Report Abuse

This is what I said many years ago but they kept insulting and suspending my account for talking about reality.

Posted by Tobby > 2022-06-29 19:00 | Report Abuse

Chill dude! The days will come when ICE cars will be seen as outdated mode of mobility!