Of the 96 million barrels of oil consumed globally each day in 2018, 62% was used for transportation, and that majority percentage is under assault.
Stephen Schork, president at Schork Group, discusses his skepticism about the upcoming initial public offering for Saudi Aramco as the world has shifted away from an oil economy. Here is a direct video link.
“Every time you see a Tesla, Prius or other hybrid out on the road, that is oil demand that is never coming back.”
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