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.
A U.S. general says Russia has operationally lost the war in Ukraine, a court says federal workers are not owed COVID-19 hazard pay, and Microsoft officially shuts down Internet Explorer. Here is everything you Need2Know for Wednesday, February 15, 2023.
Microsoft "permanently disabled" Internet Explorer on Valentine's Day, shutting down a web browser that for a long time has stood in the shadow of Google's Chrome and Apple's Safari.
The Biden administration on Wednesday announced a new program under the Bipartisan Infrastructure Law that aims to expand the infrastructure needed to keep electric vehicles charged.
