Via Casey Research
Chris’ note: The rise of electric vehicles (EVs) and self-driving cars is one of the world’s most unstoppable trends… and it’s just getting started.
Yesterday, in the first part of our discussion, Doug Casey told us why this megatrend needs to be on your radar today.
Below, we pick up where we left off and talk about what this means for certain commodities… what the investing implications are… and much more…
Chris: Doug, what happens to oil as EVs and self-driving cars go mainstream?
Doug: Almost all gasoline is used for vehicles. In fact, something like 75% of oil production is used for transportation. So, this will put a cap on petroleum prices. There’s going to be a glut of oil. Petroleum’s main use is basically going to be a feed stock for plastics and things of that nature. It’s going to collapse the production, if not the prices, of corn, palm oil, and perhaps sugar as well, because so much of those crops are – idiotically – used as biofuels.
Continue reading “Doug Casey on Electric and Self-Driving Vehicles, Part II”