EV vs. Oil

EVs don't use oil. 

Silver demand from EV

Silver Institute report.

China oil displacement with EV

EVs are taking over diesel demand in China. 

Palladium hitting new lows

More and more EV's are not good for palladium. 

Oil Demand EVs

Oil demand is going to drop due to EVs.

 

However, supply is going to drop even faster.

Copper in EVs to double demand

If all the cars were converted into EVs, the copper demand would double. 

China EV Sales Boost Lithium

China now has a 30% penetration rate, much higher than the estimated 15% a year ago.

Old estimate:

New estimate:

Latest update: 732000 NEV wholesale sales.

Penetration rate:

China EV and lithium boom

China produces 25 million vehicles per year. Out of those 25 million, 7 million are EVs according to the latest monthly data. That's a penetration rate of 30%. Moreover, China has 5X the population of USA but car sales are about the same. A lot of growth is still to come for China.

Got #lithium?

 

China EV car sales Vs. Lithium

China is powering the rise in lithium.

 

Goldman raises EV adoption

This is bullish copper.

This was Goldman's old projection:

 

Glencore CEO on Commodity Bull Market

Glencore's Glasenberg full interview, fast forward to the one-hour eleven minute mark.

Summary:

• Infrastructure spending in both China and U.S.A will boost commodities.
• COVID-19 continues to impact supply.
• Lower grades and more difficult jurisdictions impact supply.
• China stockpile supply is temporary as they need to restock eventually.
• 80% of the world energy demand needs to be replaced from fossil fuels to renewables.
• Renewable energy needs to transition: 3000 GW to 26500 GW in 2050.
• Solar Panels: 20 times more demand.
• Electric Vehicles: 18 times more demand to 55 million electric vehicles.  
• Wind Turbines: 11 times more demand.
• Copper: 30 million tonnes of demand per year today. 1 million tonnes per year increase per year needed to arrive to 60 million tonnes of copper per year.
• Nickel: 2.5 million tonnes per year today to increase to 9.2 million tonnes per year.
• Iron Ore: China is pushing their companies to increase iron ore supply for green energy (wind turbines and electricity pylons). 

China all in on electrification

There is an abundance of Chinese EV projects.

Europe Most Advanced in Batteries

Western Europe is the most advanced in the battery supply chain.

 

Gold Miners EV/production ounces

B2Gold (BTO) is probably the cheapest mine on this graph.