The energy sector, as currently composed, is heading for collapse within a decade.

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Ironically, fossil fuel companies will become sources of funds for the new energy future.

In the first post of this series, I introduced the idea of the Climate War.  Here I want to use the oil industry to illustrate how a whole industry will be left behind as the world shifts into the third industrial revolution.  (The first industrial revolution was powered by coal, the second by oil, and the third will be powered by renewables.[1]) Clearly the oil industry will be with us for a few more decades, but all the growth will be stripped out of it.  This can be seen in the car market over the past few years.  Internal combustion engine (“ICE”) car sales have been flat to down and electric vehicle (“EV”) sales are growing exponentially.  We will have ICE cars for many more years, but no one will want work or invest in, the ICE industry.  Why invest in an industry with no growth when you can invest in its cousin, where sales are growing 50 to 100

percent per year? Chart 1: Global EV Monthly Sales[2] The exponential growth of EV car sales can be seen in Chart 1, above.  In January 2017 there were under 50,000 EVs sold globally, in January 2019 that number had more than tripled.  This growth has taken place while there have been very few EVs for consumers to choose from.  That is about to change.  There are an estimated 120 new EV models being released in the next five years.[3] Table 1:  Global Car Sales[4] Table 1, above, shows (in the bottom row) that combined global car sales were down from 2016 through 2019.  However, those numbers include EV sales, which have grown exponentially.  If EV sales were backed out to show ICE car sales only, the numbers would be even worse. Which brings me back to the oil industry. Dead Man Walking The energy sector, as currently composed, is heading for collapse within a decade.  It’s already happening. Chart 2: …