🤞🏼Please come to North America 🤞🏼

Oil production rises and falls due to price/barrel and anticipated demand. Extraction is not free. Some places it’s not profitable to pump unless it’s a certain price, which in turn eventually lowers the price, which decreases production. Eventually demand will stay too low for the harder oil to be worth extracting.

Oil will be used in large quantities for a long time. Plastic still needs it. Huge parts of the world don’t have an electric infrastructure to support DCFC which means ICE vehicles will be needed for most of this century barring some newer technologies in decentralized electricity production.

One factory went from 3 shifts to 2 shifts and the press is saying “no one wants EVs.” In the world of automobile manufacturing in the US it’s always been common for factories to adjust output to sales. The are more EV options coming out all the time so buyers are spreading their money around more makes.

Tesla lost share but still far outsold other EVs in the US. The lost share is spread among so many more models than just two years ago. EVs as a percentage of new car sales continues to rise.

Costs of most cars is outrageous now with prices beyond what the average American can afford even after extending loans to 7 and 8 years.