| Musing around today- According to this Can crude oil be refined without producing petrol? | Science Questions No. And that is a huge no. Because gasoline is a large part of what is distilled and in terms of feasibility can't be made into something else. Which means oil demand for crude won't fall due to EV's, because of all the other stuff that comes from a barrel of oil is essential, and the amount of those essentials in a barrel remains the same. Put another way if the essentials are 30% of a barrel, in order to get the same number of essentials it has to come from another barrel. Gasoline demand may be falling but the demand for the other stuff in a barrel isn't, this means EVs are not reducing demand for crude, demand is falling for the distillate gasoline. Looks like Billy Bob Thorton got it right. According to supply and demand then gasoline prices must fall, refineries make the most from gasoline sales, which mean EVs cause refineries margins take a large hit. Moving on to electricity demand. EV's, Bitcoin mining, AI, data centers collectively are using record amounts of electricity add in more AC use because of rising temperatures due to man caused climate change. Demand for electricity is going to go crazy. In the case of oil demand isn't going away because of EVs, increasing demand for electricity makes copper king, inflation gold should do well. The accuracy of this post hinges on the accuracy of the above article, that the gasoline part of a barrel of crude gasoline is made from, can't be made into essentials, I plan to do more fact checking latter. |
