A question to ponder about Conoco/Exxon/Chevron & other big oil/NG players
The problem with electric cars is the batteries. Unless some new break through comes in storing electricity, this is a pipe dream. There physical limitations to storing energy via batteries. They are also expensive and require a lot of metals which are also not environmentally friendly. I see a massive move to using natural gas for powering cars trucks and rail.
Even if we phase out the use of some oil, it is harder and harder to produce because all the easy oil has been found. The older large fields are also losing volume at the rate of about 5 million barrels a day per year. Just to stay even the world needs to produce an additional 5 million barrels from new wells. Those figures also include NGL's, which is huge in the US shale plays. COP is also a huge natural gas producer. Once we shift a significant amount of transportation to run on gas and build LNG terminals for export, gas should bounce back to the $5 range and COP and other large producers will do real well.