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November 12, 2019 | Schork: EVs on the Road Represent ‘Oil Demand that is Never Coming Back’

Danielle Park

Portfolio Manager and President of Venable Park Investment Counsel (www.venablepark.com) Ms Park is a financial analyst, attorney, finance author and regular guest on North American media. She is also the author of the best-selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," and a popular daily financial blog: www.jugglingdynamite.com

Of the 96 million barrels of oil consumed globally each day in 2018, 62% was used for transportation, and that majority percentage is under assault.

Stephen Schork, president at Schork Group, discusses his skepticism about the upcoming initial public offering for Saudi Aramco as the world has shifted away from an oil economy. Here is a direct video link.

“Every time you see a Tesla, Prius or other hybrid out on the road, that is oil demand that is never coming back.”

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November 12th, 2019

Posted In: Juggling Dynamite

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