Elon Musk has delivered us a mind-bending two weeks, with the Tesla 3’s c $10bn product launch and remotely landing a reusable rocket on a robot drone ship in the middle of the ocean. Quite overwhelming.
This is not just grim news for traditional auto, but it must be super-grim news for oil. I wonder about whether a vicious cycle of declining demand might take hold in oil, accelerating the relative appeal of EVs and the increasing unattractiveness of oil as a source of fuel. I’d be interested to see any simulations/models of that effect, especially if those models stretch to local fuel retail distribution and consumer behaviour.