Will the Price of Oil Collapse Within a Decade, Driven Off Cliff By Electric Vehicles?
One of the reasons that Saudi Arabia’s plans for an Initial Public Offering (IPO) on its ARAMCO oil have not actually materialized is that investors are not dummies. Saudi Arabia’s oil is an asset with no future value, and the future in which its price collapses is nearer than the oil companies think. (I would argue that if you figure in the cost of coming climate lawsuits, oil already has a negative value, but is certainly already worthless). | By Juan Cole
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