Seeking Alpha author Kirk Spano joins Cheddar to discuss his view on the electric vehicle industry and how it relates to the demand for oil. He talks about fracking and the "peak" of the oil plateau.
Spano suggests that fracking is done accelerating and will most likely only produce 10-11 million barrels a day moving forward.
He believes the takeover of electric vehicles may not happen as soon as people expect. He doesn't see families giving up their cars and dropping everything to go electric. He predicts 1 billion EVs will hit the road by 2040. Additionally, Spano believes oil prices will rise a bit and worries that war may drive up the demand.
British officials and space scientists said Tuesday they were disappointed but not deterred after the first attempt to launch satellites into orbit from the U.K. ended in failure.
German carmaker Volkswagen said it delivered 4.56 million vehicles in 2022. This is down 6.8% from the year before, as a "strained supply situation" led to a backlog of orders.
The NHTSA is investigating a Musk tweet indicating Tesla might allow some customers testing the "Full Self-Driving" system to disable an alert that tells them to keep their hands on the wheel.
