Indeed, we have electric cars and we have several sources of renewable energy. However, I believe that the transition is likely to be gradual.
To put things into perspective, China is the largest market for electric vehicles. Currently, 5% of new cars sold are electric vehicles.
The government is targeting to increase this to 20% by 2025. So change is coming. But it will take time.
And oil might not go back to $100. But even if oil is in the range of $60 to $70, there are lot of exploration and production companies that will generate robust free cash flows.
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