Rebecca Babin, CIBC Private Wealth senior energy trader, joins ‘Squawk Box’ to discuss the crude oil market, what it’ll take for the rally to continue, and more. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
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10 Comments
BIG IF
After losing so much to stock market, One best investment decision I ever made afterwards was investing in financial markets. Which has earned me $34,970 profit every 14days lately. Trust me guys it pays a lot.
but, but …electric cars HAHAHAHAHAHAHA
Biden's electric tanks is a game changer!
I think I’m just going to buy a Tesla in the next year at this point. Especially if I drive more
When it finally dawns on everyone that the renewables scam is a bust, oil will make a massive comeback
Joe just loves nothing more than the sound of his own voice.
Unsurprisingly CNBC does not do its homework. First of all the assumption that the conversion to EV is going to reach the goals of (uninformed, non-scientist) politicians who do not have 1 day experience in the real world is magical thinking. Here are the reasons:
There is not enough lithium to convert even the entire US and EU car fleet to EV; not even considering the rest of the world.
Mining lithium and transporting it uses oil (and puts carbon into the air; break even is at 60K miles for an EV).
More electric cars will only make a modest change in oil use – a 10% reduction if all cars produced are EV.
As developing countries become wealthier world energy consumption goes up.
The electric grid cannot take the extra energy draw and a quick fix would involve building and increasing use of fossil fuel plants.
The good news is if you are an investor the stupid political decisions of Western leaders today (discouraging exploration and development) mean that oil will increase in price in the future and that oil companies will be generating a lot of free cash flow in the future.
This is a joke saudi cuts have no rippled through the markets it’s not making any difference there’s this thing called speculation on supply because of those cuts but demand is down much more then those cuts
I like to see a windmill make plastic