Petroleum, Petro Energy To Die in 21st Century?

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Here is a brief analysis of some financial market signs of why electric power would rule in the 21st century and petroleum-based energy would go the way of the dinosaur. Not a strong enough reason to completely dismiss such a huge industry as petroleum, but well, an interesting insight anyway

Could oil go the way of the dinosaur? On John Mauldin’s Outside the Box, Charles Gave of GaveKal, a global investment research and management firm, posits:

“Our 19th century world was dominated by coal. Our 20th century was dominated by oil. It is our firm belief that the 21st century will not be dominated by oil. It will be dominated by electricity; and oil will become a marginal energy. This simple truth might help explain why, since 2001, uranium has not had a single down month, and since 2003, uranium has never traded down for even a single day, regardless of what was happening to oil prices...

“As oil becomes irrelevant, one should probably expect serious political turmoil, and revolutions, in Venezuela, Russia, Iran...”

Hmmmm...I just wonder how the Sheiks of middle east would feel if no one wants oil. Of course they will remain rich - I'm sure they have invested their dollars into non-petro assets, but well if no one is interested in them anymore, they might just feel the way a Hollywood superstar would feel if one fine day he wakes up and finds himself to be an ordinary Joe Doe


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