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.
Catching you up on what you need to know on April 4, 2022, with reports of Russian war crimes in Ukraine, a weekend shooting in Sacramento killing six and injuring 12, Mexico ending its gas subsidization for U.S. drivers, and the University of South Carolina winning the women's NCAA basketball championship, and more.
Tesla CEO Elon Musk is taking a 9.2% stake in Twitter to become the social media platform's largest shareholder. Musk purchased approximately 73.5 million shares, according to a regulatory filing Monday.
The impact of the pandemic on people's wellbeing has shown a need for easier access to mental health care. Impact Suite is a digital platform that owns and operates a suite of self-care apps. Clay Olsen, founder and CEO of Impact Suite, joins Cheddar News to discuss the new updates to its 'Lift' app.
