/biz/ - Business & Finance

So when do we go ALL IN on XOM (or Chevron, BP, whatever)?
There is NO technology that can replace Oil as the major energy source of the world in the next 3-5 decades.
Renewable are a meager ~5% of global energy consumption and building EVs, Renewable Power infrastructure etc. itself often consumes more Oil than it generates in equivalent power.

If Oil were to run out tomorrow, 2-5 Billion people would starve within a year. Without Oil, the global economy CAN NOT be sustained. The price must inevitably recover. It can literally not go tits up.