Peter McClard
Feb 24, 2023

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All oil producers are looking at a steady permanent decline in demand, especially from China which is pushing massive changes to EVs and renewables for obvious reasons but most especially since it's ecological and economical at the same time. The EU has made astonishing changes to renewables in the last year. The pressure will be on demand, not supply, which means lower prices, not higher. Also, each month that goes by creates permanent drops in global demand that are not the old cycle at all. We are moving to a new era. It's not a matter of choice. Unfortunately for Russia, they will be the shop of last resort as the decline ensues.

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Peter McClard
Peter McClard

Written by Peter McClard

As a creative type, entrepreneur and philosopher, I write on many topics and try to offer solutions to, or useful insights into common problems.

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