Seeking Alpha author Kirk Spano joins Cheddar to discuss his view on the electric vehicle industry and how it relates to the demand for oil. He talks about fracking and the "peak" of the oil plateau.
Spano suggests that fracking is done accelerating and will most likely only produce 10-11 million barrels a day moving forward.
He believes the takeover of electric vehicles may not happen as soon as people expect. He doesn't see families giving up their cars and dropping everything to go electric. He predicts 1 billion EVs will hit the road by 2040. Additionally, Spano believes oil prices will rise a bit and worries that war may drive up the demand.
As the pandemic recedes, ride-hailing apps are back in full swing, but it hasn't come without a price. Uber and Lyft are both facing historic driver shortages. More than half of Uber and Lyft drivers stopped driving during the pandemic, leading to longer wait times and surging prices. For more on this Christof Baumbach, CEO, ride-hailing app, Wingz joined Cheddar's 'Fast Forward: Life After Covid-19.'
