#demand #oil #energy
Global X ETFs Director of Research Rohan Reddy joins Yahoo Finance Live to discuss oil prices, inflationary concerns, demand destruction, and the state of the economy.
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2 Comments
I don't see demand destruction happening. A large percentage of fuel purchases are not optional. Some consumers and businesses have to keep buying some amount of fuel. We don't know what that percentage is of the overall market but it's only the remaining percentage that can fluctuate. I'll call that "discretionary fuel purchases". Now you might think EVs are chipping away that fuel sales but that's also not happening. The gas cars being replaced by EVs are not being destroyed, they just go to another owner and keep using fuel. In fact many resold gas cars from EV buyers are driven MORE than they were by the previous owner.
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