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Ooh! @JeremyLeggett created a slideshow on this groundbreaking report from @BNPParibas's Mark Lewis @MCL1965.
Oil's days are numbered.
https://jeremyleggett.net/2019/08/05/a-groundbreaking-report-out-today-shows-huge-capital-efficiency-advantage-of-solar-and-wind-over-oil/ …
Simply glorious news. 
"Even if we add in the cost of building new network infrastructure to come with all the new wind and/or solar capacity implied by replacing gasoline with renewables and EVs, the economics of renewables still crush those of oil."
#CarbonBubble *Crack!*
"Extrapolating total expenditure on gasoline in 2018 for the next 25 years would see $25 trn spent on mobility...We estimate the cost of new renewables projects [able] to match the 2018 level of mobility provided by gasoline every year for the next 25 years at only $4.6-$5.2trn."
Yup:
“The economics of oil for gasoline and diesel vehicles versus wind- and solar-powered EVs are now in relentless and irreversible decline, with far-reaching implications for both policymakers and the oil majors.”
#CarbonBubble
Oil demand peaking in 2020s means a huge amount of money is at risk. The question is: when will financial markets wake up? Or as @MCL1965 of banking giant BNP Paribas put it:
"How much longer can Wile E Coyote keep walking out on thin air over the gulch before he looks down?"pic.twitter.com/irvegiVcbW
On oil demand peaking in 2020s, watch this video from Kingsmill Bond of @CarbonBubble. I summarized it in this thread:https://twitter.com/emahlee/status/1163344784640974849 …
.@arhobley explains the vast amount of money and value at risk due to demand for oil peaking in the 2020s:https://twitter.com/emahlee/status/1163232637445521408 …
The largest bank in the Eurozone (8th largest in the world) has damning news for oil sector: "Oil is finished; EVs+renewables are 6x more cost-effective" Again, this is a *banking giant* talking. Report doesn't even consider climate or health benefits. https://chargedevs.com/newswire/major-bank-oil-is-finished-evsrenewables-are-6x-more-cost-effective/ …
If I was an oil exec, I'd either be terrified OR continue proclaiming, "everything is fine!" to the great peril of shareholders and the world economy.
@MCL1965 reminds us of the billions lost in the European utility industry when demand for thermal electricity peaked in 2007:pic.twitter.com/uFsHvratiz
Another example of billions lost when incumbents failed to see the reality in front of their face:
#CarbonBubblehttps://twitter.com/emahlee/status/1163344787723845632 …
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Oil's days are numbered.