Locator: 49922OIL.
Two of the biggest scams perpetuated on the American people -- and they're obviously related:
Looking back on this -- global warming and peak oil -- China was behind this story.
By the way, "Peak Oil" is tagged. Peak Oil.
Locator: 49921B.
Bakken's production y/y: drops all of 54 bbls oil per day. Not only inconsequential but absolutely incredible. Link here.
Locator: 48430WHITMAN.
The Oakdale oil field wells have been updated. They are tracked here.
Perhaps the largest number of spectacular wells in one oil field in all of the Bakken. These are simply incredible wells. Most at 500K or trending toward 500K. Many at 900K bbls crude oil cumulative or trending toward that number. Several over 1 million bbls crude oil cumulative.
I believe I just posted some updated data regarding the CLR Whitman wells in the Oakdale oil fied.
I can't remember if I posted this jump in production for this well:
| BAKKEN | 10-2022 | 31 | 14261 | 14314 | 12380 | 18998 | 18757 | 2 |
| BAKKEN | 9-2022 | 30 | 36194 | 36217 | 25834 | 39966 | 39770 | 196 |
| BAKKEN | 8-2022 | 18 | 31218 | 31087 | 17708 | 25267 | 23665 | 1602 |
| BAKKEN | 7-2022 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 6-2022 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 5-2022 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 4-2022 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 3-2022 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 2-2022 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 1-2022 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 12-2021 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 11-2021 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 10-2021 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 9-2021 | 14 | 236 | 553 | 7 | 387 | 275 | 0 |
| BAKKEN | 8-2021 | 31 | 656 | 550 | 52 | 1241 | 822 | 0 |
| BAKKEN | 7-2021 | 26 | 584 | 756 | 21 | 1034 | 696 | 0 |
| BAKKEN | 6-2021 | 30 | 713 | 579 | 57 | 1247 | 843 | 0 |
Locator: 48408PEAKOIL.
US crude oil field production.
Since August, 2022, not one month less than 12 million bopd.
One year later, August 2023, hit 13 million bopd and never dropped below that 13-handle except for one month -- January, 2024.
Hubbert peak theory says this could / would not happen. Bakken experts also said this would not happen.
There are at least six data points / observations worth checking out.
From a previous post:
Update: November 27, 2022, back on line:
| Pool | Date | Days | BBLS Oil | Runs | BBLS Water | MCF Prod | MCF Sold | Vent/Flare |
|---|---|---|---|---|---|---|---|---|
| BAKKEN | 9-2022 | 26 | 2596 | 2682 | 6140 | 5782 | 5780 | 2 |
| BAKKEN | 8-2022 | 21 | 2620 | 2686 | 5488 | 5289 | 5289 | 0 |
| BAKKEN | 7-2022 | 31 | 3861 | 3828 | 7321 | 5922 | 5914 | 8 |
| BAKKEN | 6-2022 | 30 | 4867 | 4924 | 8362 | 9428 | 9243 | 185 |
| BAKKEN | 5-2022 | 31 | 4755 | 4882 | 11638 | 11640 | 11593 | 47 |
| BAKKEN | 4-2022 | 27 | 3625 | 3361 | 12169 | 4249 | 4236 | 13 |
| BAKKEN | 3-2022 | 31 | 4112 | 4162 | 13958 | 5356 | 5347 | 9 |
| BAKKEN | 2-2022 | 28 | 5902 | 5806 | 13585 | 7997 | 7986 | 11 |
| BAKKEN | 1-2022 | 8 | 1160 | 1148 | 505 | 1622 | 1611 | 11 |
| BAKKEN | 12-2021 | 9 | 1037 | 1033 | 2351 | 1637 | 1620 | 17 |
| BAKKEN | 11-2021 | 30 | 1168 | 1163 | 2534 | 1773 | 1752 | 21 |
| BAKKEN | 10-2021 | 8 | 310 | 310 | 751 | 1097 | 1088 | 9 |
| BAKKEN | 9-2021 | 8 | 319 | 316 | 753 | 993 | 989 | 4 |
| BAKKEN | 8-2021 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 7-2021 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 6-2021 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 5-2021 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 4-2021 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 3-2021 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 2-2021 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 1-2021 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 12-2020 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 11-2020 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 10-2020 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 9-2020 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 8-2020 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 7-2020 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 6-2020 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 5-2020 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 4-2020 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 3-2020 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 2-2020 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 1-2020 | 24 | 812 | 937 | 1285 | 2566 | 2487 | 10 |
| BAKKEN | 12-2019 | 31 | 1124 | 1121 | 2108 | 3957 | 3305 | 559 |
| BAKKEN | 11-2019 | 30 | 1137 | 1102 | 2062 | 4295 | 0 | 4205 |
| BAKKEN | 10-2019 | 31 | 1171 | 1286 | 2258 | 5546 | 0 | 5453 |
| BAKKEN | 9-2019 | 24 | 1067 | 957 | 2061 | 4515 | 4293 | 150 |
| BAKKEN | 8-2019 | 31 | 1467 | 1543 | 2587 | 6769 | 6663 | 13 |
These wells were drilled back in the early days of the boom. Now, huge jump in production. Not supposed to happen (peak oil theory).
From this post,There's So Much Work Left To Be Done In The Bakken -- August 23, 2022.
Four singletons, all old wells, re-work, halo effect, re-fracks, lots of work:
Updates:
| Pool | Date | Days | BBLS Oil | Runs | BBLS Water | MCF Prod | MCF Sold | Vent/Flare |
|---|---|---|---|---|---|---|---|---|
| BAKKEN | 9-2022 | 30 | 9077 | 9134 | 22595 | 4285 | 3772 | 0 |
| BAKKEN | 8-2022 | 19 | 9888 | 9569 | 24176 | 4323 | 3866 | 75 |
| BAKKEN | 7-2022 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 6-2022 | 2 | 0 | 95 | 85 | 39 | 7 | 0 |
| BAKKEN | 5-2022 | 31 | 635 | 585 | 1649 | 653 | 205 | 0 |
| BAKKEN | 4-2022 | 29 | 573 | 647 | 1487 | 490 | 177 | 0 |
| BAKKEN | 3-2022 | 31 | 839 | 717 | 1510 | 812 | 254 | 0 |
| BAKKEN | 2-2022 | 28 | 590 | 679 | 1362 | 727 | 240 | 0 |
| BAKKEN | 1-2022 | 31 | 735 | 700 | 1407 | 672 | 221 | 0 |
| Pool | Date | Days | BBLS Oil | Runs | BBLS Water | MCF Prod | MCF Sold | Vent/Flare |
|---|---|---|---|---|---|---|---|---|
| BAKKEN | 9-2022 | 30 | 8910 | 8734 | 28543 | 3538 | 3115 | 0 |
| BAKKEN | 8-2022 | 8 | 4245 | 4170 | 10065 | 1466 | 1312 | 25 |
| BAKKEN | 7-2022 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 6-2022 | 0 | 0 | 100 | 0 | 0 | 0 | 0 |
| BAKKEN | 5-2022 | 23 | 667 | 609 | 1538 | 579 | 182 | 0 |
| BAKKEN | 4-2022 | 23 | 580 | 598 | 2054 | 520 | 187 | 0 |
| BAKKEN | 3-2022 | 25 | 633 | 573 | 1373 | 462 | 145 | 0 |
| BAKKEN | 2-2022 | 28 | 611 | 709 | 1640 | 577 | 191 | 0 |
| BAKKEN | 1-2022 | 31 | 782 | 733 | 1843 | 771 | 255 | 0 |
| Pool | Date | Days | BBLS Oil | Runs | BBLS Water | MCF Prod | MCF Sold | Vent/Flare |
|---|---|---|---|---|---|---|---|---|
| BAKKEN | 9-2022 | 27 | 1989 | 1945 | 0 | 410 | 47 | 359 |
| BAKKEN | 8-2022 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 7-2022 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 6-2022 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 5-2022 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 4-2022 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BAKKEN | 3-2022 | 21 | 792 | 1177 | 1117 | 465 | 169 | 0 |
| BAKKEN | 2-2022 | 28 | 822 | 704 | 1529 | 0 | 0 | 0 |
| BAKKEN | 1-2022 | 31 | 965 | 1042 | 1804 | 911 | 401 | 0 |
| BAKKEN | 12-2021 | 31 | 951 | 765 | 1643 | 815 | 359 | 0 |
China, John Kerry, and climate change:
OPEC basket price: it's been awhile since we've posted this data. Saudi Arabia can't "make it" on 6-handle oil; and Saudi Aramco has said as much, telegraphing it will slash its "promised" annual divided with sub-$80-oil. From OPEC:
Flashback: it never quits -- it's hard to believe but this August 10, 2012, Harvard study is still available on the net. Archived. Pre-pandemic analysis:
Global oil supply capacity is growing at an unprecedented level, and could result in an overproduction glut and steep dip in oil prices, according to a June 2012 study from Harvard University's Kennedy School of Government.
Contrary to the idea among some that global oil supply is running out, additional production of 17.6 million barrels of oil per day (bopd) could come online by 2020, boosting global production capacity to 110.6 million bopd, even with depletion rates for currently producing oilfields and reserve growth.
"This would represent the most significant increase in any decade since the 1980s," said Leonardo Maugeri, author of the study "Oil: The Next Revolution -- The Unprecedented Upsurge of Oil Production Capacity and What It Means for the World."
The Bakken was cited as the "gold standard" when evaluating shale plays:
The United States has more than 20 big shale oil formations, in particular the Eagle Ford shale, which has a hydrocarbon endowment on par with the Bakken. Most U.S shale and tight oil plays are also profitable at a West Texas Intermediate price ranging from $50 to $65 per barrel, making them "sufficiently resilient" to a significant downturn in oil prices.
Multiple formations in the Permian. I get a kick out of all the analysts justifying the high prices paid per net acre in the Permian based on:
Memes.
Conventional oil metrics.
USGS 2013 survey. To the best of my knowledge, never updated.
Gasoline demand:
Top Rigzone stories this past week, based on page views, link here:
Peak oil: We live in very, very interesting times.
On the one hand we have the Financial Times telling us "shale is dead." We have the new administration telling us that wind and solar energy will provide all the energy we need. Then we have Guyana-Suriname. Link here. Archived.
Peak bonds: Apple sells $14 billion of bonds as share buybacks seen rising. Link here. Archived. That amounts to about 100 million AAPL shares.
The company issued debt in six parts. The longest portion of the offering, a 40-year security, will yield 95 basis points above Treasuries, after initially discussing between 115 and 120 basis points, according to a person with knowledge of the matter, who asked not to be identified as the details are private.
Until 2020, Apple hadn’t borrowed in the U.S. investment-grade market more than once in a calendar year since 2017. But rock-bottom interest rates proved too tempting for the world’s most valuable company to pass up as it pursues aggressive share buybacks and dividends.
Apple’s outstanding 40-year bonds, the 2.55% securities due 2060, widened more than 5 basis points Monday to trade around 89 basis points over Treasuries.
Bondholders typically sell out of their positions to make room for the new notes, which often come with a heftier yield to entice investors.
Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here.
Yum: YUM increased its quarterly dividend from 47 cents to 50 cents; record date, 2/12/20 and pay date, 3/12/20. Covid-19 pandemic? Long live the pandemic:
Yum! operates the brands KFC, Pizza Hut, Taco Bell, The Habit Burger Grill, and WingStreet worldwide, except in China, where the brands are operated by a separate company, Yum China.
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The Movie Page Quiz
Can you name the worst "B" movie ever with this superb cast (hint: the answer is in the question):
I'm posting this graphic for only one reason. There is a reader that follows this much more closely than I do. Every week the reader tracks the same metrics and was one of the few that has called out the EIA on "fudging" the data it reports. The EIA is forced to use a "fudge factor" to explain away 500K bbls of lost oil every week, plus or minus a few hundred thousand. I never would have known but the reader pointed that out about a year ago. And it's true. One can easily find the small print in the weekly EIA stats in which the EIA points out they need to place a "fudge factor" in the data to make the "books balance."
So, now this, from twitter this past week:
Macht nichts but this comment by HFI Research would have meant nothing to me had I not blogged, and had a reader not pointed this out to long ago.
Two and a half decades ago, Nick Steinsberger invented what is now the modern-day frack in the Barnett shale. Now, the petroleum engineer extraordinaire is tasked with proving up untold billions of barrels of oil in Namibia’s Kavango Basin in what could very well be the world’s last-ever discovery of a massive onshore sedimentary basin.
Saudi Arabia: this past week, this was a top story: Saudi Arabia crude oil exports drop to lowest on record. Repeat: exports drop to lowest on record. On record. I find it amazing the stories that get so little press. Now this, from oilprice: the world's top oil importer -- CHINA -- is turning away from Saudi Arabia and turning to less expensive oil from Brazil and the United States.
In recent months, the world’s biggest oil exporter, Saudi Arabia, has lost market share in China to the United States as the world’s top oil importer has boosted imports from America and reduced purchases from the Kingdom.
China has imported record volumes of crude oil in recent months, taking advantage of the lowest crude prices in two decades in April stock up on dirt-cheap oil.
In their bargain-hunting for low-priced oil, Chinese state oil giants and independent refiners alike snapped up cheap U.S. cargoes in April, which were loaded in May, started to arrive in China in June, and set records in July.
At the same time, Chinese oil imports from Saudi Arabia – after hitting all-time highs in May and June thanks to the bargain prices the Saudis offered in the brief price war for market share in March and April – slipped in July as availability of crude from the Middle East shrank after May with the OPEC+ cuts.
Chinese refiners were opportunistic buyers of crude in March and April, and given the shorter tanker travel time between the Middle East and China, compared to the U.S.-China route, Chinese imports of crude oil from Saudi Arabia slumped as early as in July from the record highs of the previous two months. Meanwhile, the roughly 45-day route from the U.S. to China means that the cheap American crude oil loaded in May started arriving in China en masse in July.
Much more at the link.
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For The Archives:
Saudi Aramco Announces Two New Oil And Gas Fields
Just what they need: more oil. LOL.
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Texas High School Football Players of the Year
On cable sports network now. Amazing to watch. What a great state. What a great country. 4A Texas football athlete of the year: Ashton Stredick. The senior is headed to Princeton University. From Needville, TX, within the Houston-Sugar Land metropolitan area. I'll miss the 5A highlights; headed over to Sophia's house for dinner.
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An Incredible Personal Story -- This Is What Life Is All About
R U serious, Jay? Even Melissa and the other talking heads over at CNBC this morning were joking about Jay Powell's anticipated speech scheduled for tomorrow. Apparently Mr Powell will say that the Fed is going to let "inflation run a bit hotter for a bit longer." LOL. Melissa, et al, noted there is no inflation. Whatever.
The Saudi's self-reported that they decreased production in March, 2020. However, the average of estimates from the IEA, the EIA, CERA, Reuters, Platts and Argus is that they increased output by 388,000 barrels per day to 10,058,000 barrels per day.
they were supposedly sending a fleet of VLCCs this way in an attempt to flood US storage (which they denied).
Recent reports have them still pumping oil and cutting prices even after last week's agreement.The amount of storage capacity the Saudis have is probably somewhere between 100 million and 200 million bbls of oil. I think the best estimate is 160 million bbls.
| $50.34 | 2/7/2020 | 02/07/2019 | 02/07/2018 | 02/07/2017 | 02/07/2016 |
|---|---|---|---|---|---|
| Active Rigs | 54 | 63 | 58 | 40 | 42 |
U.S. shale oil production and exports have contributed to global oversupply in recent years, which, in turn, has amplified pressure on OPEC to implement production cuts to keep crude oil prices from collapsing to untenable levels. That’s led to an agreement among most OPEC countries and nearly a dozen other non-member producing countries — together known as OPEC-Plus — to limit production, an accord that’s remained in place since January 2017.
However, oversupply conditions now are also prompting U.S. oil and gas producers to pull back on their planned capital expenditures for 2020, suggesting a slowdown in U.S. production growth later this year and into 2021. Recent global oil supply and demand forecasts by the International Energy Agency (IEA), the U.S. Energy Information Administration (EIA) and OPEC itself suggest that such a slowdown, if it materializes, could present a window of opportunity for OPEC-Plus to relax its quotas and potentially reclaim some of its lost oil market share, at least for a time. Today, we examine what the recent changes in monthly data from IEA, EIA and OPEC indicate about potential shifts in the OPEC versus non-OPEC oil supply and demand balance and what that could mean for OPEC’s role in meeting global demand.
Earlier, we described how OPEC-Plus, including 10 non-member oil-producing countries, have managed oil supply since January 2017 under an agreement aimed at preventing a repeat of the oil-market collapse of 2014-16. Reducing supply from the 22 OPEC-Plus countries had the intended effect of supporting global oil prices. But, as expected, OPEC members’ market share fell as a result, while the share held by non-OPEC producers has increased. Production gains in the U.S. have been the most dramatic, with crude oil production growing from 8.8 MMb/d in 2014 to 12.2 MMb/d in 2019, and domestic exports of all liquid hydrocarbons have climbed from 5.3 MMb/d to 8.5 MMb/d in the four years since the U.S. lifted its ban on most crude oil exports. However, as we noted in the previous episode, U.S. producers are now signaling a slowdown in their growth.
Just as Saudi, Kuwait, Russia and several other regimes rely upon oil revenue for political/social ends, other countries are in the same boat with natgas. The countries include Russia, Qatar, Algeria, Malaysia.All these countries tie their pricing to various oil indexes (say, 12% of Brent, for illustrative purposes).The completely disconnected - from global markets - pricing at Henry Hub gives US producers a HUGE economic edge when competing now in global markets.
Regional hub pricing has just emerged with JKM, TTF, and NBP to provide free market parameters vis a vis supply/demand in Asia, Europe, indeed, everywhere.Independent (read, non-government-owned) companies are upending these long established paradigms at blinding speed.
According to the Energy Information Administration (EIA), U.S. proved reserves of crude oil and lease condensate increased to 47.1 billion barrels in 2018—a 12 percent increase compared with the previous record set at year-end 2017 of 42 billion barrels. U.S. proved reserves of natural gas increased to 504.5 trillion cubic feet—a 9 percent increase compared with the record level set in 2017 of 464.4 trillion cubic feet.When I first started blogging, I never understood why "proved reserves" would b contingent upon price.
Proved reserves are oil and natural gas quantities that geological and engineering data find with reasonable certainty to be recoverable from known reservoirs under existing economic and operating conditions. Reserves estimates change from year to year as new discoveries are made, existing fields are appraised, reserves are produced, prices and costs change, and technologies develop.
U.S. proved reserves of oil and natural gas have increased despite record production of these fuels in 2018. U.S. crude oil and lease condensate production increased 17 percent in 2018 to an average of 10.96 million barrels per day—1.6 million barrels per day more than in 2017.
U.S. natural gas production increased 12 percent in 2018 to 89.9 billion cubic feet per day—10 billion cubic feet per day more than in 2017.
The largest net increase in oil and natural gas proved reserves in 2018 was in Texas, totaling 2.3 billion barrels of crude oil and lease condensate proved reserves and 22.9 trillion cubic feet of natural gas proved reserves. The major share of that increase was located in the Wolfcamp and Bone Spring shale plays in the Permian Basin.
The next largest net gains in crude oil and lease condensate proved reserves in 2018 were in New Mexico and North Dakota. New Mexico’s crude oil and lease condensate proved reserves increased by 750 million barrels and North Dakota’s increased by 422 million barrels in 2018.It's my understanding that Saudi Arabia's proved reserves has/have not changed in decades.
XOM has now raised its recoverable resource estimate from this play by 2 billion boe to more than 8 million boe. Link here. Peak oil? What peak oil?Selling out Putin? This and several other stories suggest huge developments for Russia.
Facing economic collapse and painful sanctions, the socialist government of Venezuelan President Nicolas Maduro has proposed giving majority shares and control of its oil industry to big international corporations, a move that would forsake decades of state monopoly.
Maduro’s representatives have held talks with Russia’s Rosneft PJSC, Repsol SA of Spain and Italy’s Eni SpA. The idea is to allow them to take over government-controlled oil properties and restructure some debt of state oil company Petroleos de Venezuela SA in exchange for assets, according to people with knowledge of the matter.Brooge: link here.
Brooge Petroleum and Gas Investment Co. plans to expand its crude-storage capacity six-fold at the Middle Eastern port of Fujairah to meet “huge” demand at the busiest oil-trading hub in the region.
The United Arab Emirates-based business will sign contracts by the end of the first quarter, or soon after, to lease out the additional capacity, Chief Executive Officer Nicolaas Paardenkooper said in an interview. It will complete a study for the project over the same period and may start construction work by the end of 2020.
A reader sent me a link to "GM to invest $2.2 billion in Detroit plant to produce electric cars." Google it.
My reply, not ready for prime time:Disclaimer: this is not an investment site. Do not make any investment, financial, career, travel, job, or relationship decisions based on what you read here or think you may have read here.
The auto manufacturers are all getting ready for the mandates that will be put in place in 2021, or 2025 at the latest, when Trump is out of office.
At some point, the auto manufacturers will have poured so much money into the EV scheme, that "too big to fail" will be "new" again; and the government will have no choice but to mandate EVs for all. If not, a lot of US manufacturers will fail, and a lot of stateside manufacturing plants will close regardless of whether they are Japanese, German, or Korean.
It will be a huge transition for everyone on such a huge scale. The infrastructure alone that is needed is huge: just the neighborhood transformers (GE) that will all need upgrading. The utilities will have to expand exponentially to handle the electricity / grid issues. Solar / wind won't keep up, and natural gas will be the bridge (a bridge that will last at least 50 years) before we transition to small, modular nuclear reactors.
A lot of mechanics, service station attendants, will be looking for new work. A whole ICE supply chain will disappear. NAPA Parts? How about NAPA Departs?
I don't see investing in automobile companies as particularly attractive: the margins won't be huge; batteries are simply too expensive, and no "moat" -- every auto manufacturer will be building them. Competition will be incredibly stiff. But infrastructure investing might be different: utilities, charging networks (copper wiring?), GE transformers, commodities such as lithium, cobalt.