Interesting read. I'm sure it will happen at some point, which the article states is difficult to predict when that may happen.
Not ideal timing for an Aramco IPO, which keeps getting delayed for a variety of reasons.
One shoe to fall would be the announcement earlier this year that Fiat-Chrysler would cease production of diesel passenger cars. Some other auto companies had made similar announcements. Diesel was once the primary fuel source for passenger autos in Europe. But times are changing. That plus the newer emissions that diesel engines now have to meet is increasing the production and ownership cost. Diesel's once claim to fame of getting higher mpg has now be reduced as the entry cost increasedl
The one thing I took exception with in the article was the claim that China is moving away from coal which caused US exports to drop resulting in a blow to US coal companies. I believe that China instead was producing more coal regionally and relying on other trading partners with lower shipping costs (Australia for one) and that the more expensive US coal had a higher cost and therefor fell out of favor. I would have to try and find China coal consumption data, but I would be surprised if they really are using much less now than they were say 10 years ago.
[Edited on 3/28/2018 by nebish]
Here's a fun game that fits with the theme here...I came across this quote, any guesses on from where or what industry/company said it in a story from this month, this year?
"Electric cars are disasters. They are evil. We are very nervous,"
Here's a fun game that fits with the theme here...I came across this quote, any guesses on from where or what industry/company said it in a story from this month, this year?
"Electric cars are disasters. They are evil. We are very nervous,"
Auto worker union.
Damn you googled it didn't you?
That is my fault, it was too easy.
I was thinking of all the answers we might have gotten. You know, greedy oil executive perhaps, or maybe a conspiracy from within the auto industry, you know the type that suppressed technology advancement that would negatively impact them, or maybe some stiffs in the Trump admin like Scott Pruit.
But no, just a boring South Korean labor leader.
It brings the point to the table however, considering the source and the perspective. As time evolves there are alot of challenges to face and overcome, if we can.
