Oil glut? The analyses I've read point to an oil _crunch_. Are you being sarcastic?
https://www.abqjournal.com/1254493/usgs-permian-oil-gas-rese...
"The USGS said its estimates are for “continuous unconventional oil,” meaning it’s spread throughout the Wolfcamp and Bone Spring formations rather than concentrated in one place. It said the reserves are “undiscovered,” meaning they have yet to be produced, and that they’re “technically recoverable” with current technologies."
Key phrases:
* continuous unconventional
* undiscovered
If you look at the US for example for the first time in 30 years. They've been oil reserves. Oil they save for nation security to turn it into profit before it's worthless.
It makes sense for China, the US, and europe to go electric since they have very little oil. It's a national security thing is what my guess is.
Huh? We've had reserves for practically a century:
https://en.wikipedia.org/wiki/Oil_reserves_in_the_United_Sta...