One of the things to take into consideration is that we passed peak
conventional oil production in 2005. Any increase in replacement reserves will
be increasingly more expensive with respect to salary growth going forward. As
we burn through cheap gasoline and supplies are drawn down, we will eventually
have to replace it with the expensive stuff. It maybe some time before that
happens. EVs are more of a solution than ICEs will ever be. I think the
powers that be know this and will feed their decision to Trump. We have to
figure out their game plan. It may not be obvious or long lived.
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