Respected hedge fund energy expert, billionaire John Arnold has a ‘very good theory’ on the impact from autonomous vehicles, electric vehicles, cheap electricity from renewable energy sources and ride-hailing apps changing the supply and demand for oil.
“Oil is fascinating because there is this big shift, for decades the question has been about supply,” Arnold said. “The coming 10 years is more about demand.”
According to Fortune, Arnold reportedly generated a 317 percent return in 2006 and had annual returns of more than 50 percent in his first seven years managing his hedge fund.
Read more of the original article at CNBC.
The post Billionaire John Arnold says Renewable Energy Hurts Demand for Oil appeared first on Fleet Management Weekly.
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