Last week, the International Energy Agency (IEA), released a new report indicating that world fossil fuel demand is set to peak by 2030.

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Last week, the International Energy Agency (IEA), released a new report indicating that world fossil fuel demand is set to peak by 2030.

                                                                                                     

Oct 31, 2023 By Jeff Siegel for the Outsider Club BP Invests $100 Million in Electric Cars Dear Reader, Last week, the International Energy Agency (IEA), released a new report indicating that world fossil fuel demand is set to peak by 2030. Here are some highlights of that report:  The share of coal, oil, and natural gas in global energy supply — stuck for decades around 80% — starts to edge downward and reaches 73% by 2030. As a result of the Inflation Reduction Act in the United States, it is now projected that 50% of new U.S. car registrations will be electric in 2030. Two years ago, it was 12%. Sales of cars and two/three-wheel vehicles with internal combustion engines are well below where they were before the COVID-19 pandemic. In the electricity sector, worldwide additions of coal- and natural gas-fired power plants have halved, at least, from earlier peaks.  Renewables are set to contribute 80% of new power capacity to 2030 in the STEPS, with solar PV alone accounting for more than half.  Until this year, meeting projected demand implied an increase in oil and gas investment over the course of this decade, but a stronger clean energy outlook and lower projected fossil fuel demand means this is no longer the case. Interestingly, this report came out shortly before this news… BP (NYSE: BP), the fourth-largest investor-owned oil company in the world by revenue, will be selling "fuel" for electric cars, just as it sells fuel for internal combustion vehicles.  And while $100 million isn't much for a company like BP, it's another positive indicator for the electric vehicle market.   Of course, one day, charging stations won't even be necessary.  Because eventually, electric cars will be powered by solar. I'm serious.  There's $322 Billion Worth of Lithium in Northwest Alberta... Why Can't Anybody Touch It? For more than 40 years, an oil company has been working a 671-square-mile chunk of northwestern Alberta, producing its lifeblood using brine that's kept in hundreds of massive storage ponds. These storage ponds have long been known to contain a massive lithium resource, totaling an estimated 4.3 million tons. Just recently a tiny Vancouver-based technology company, founded and headed by petrochemical industry veterans, figured out a way to extract the lithium from this brine, very quickly and very efficiently. So efficiently, in fact, that the company can filter this oil field brine, returning it to the pond after processing, with a better than 95% capture rate. Production of salable lithium will cost between $3,000 and $4,000 per ton, while market rates price lithium at $70,000 per ton. They know where the lithium is, they know how to extract it, and, as of now, they have an agreement in place to work this giant lithium-rich property. Commercial production is now projected to be in place by the middle of 2024, with buyers already lining up. Interested? Enter here to learn more. And if you don't believe it, consider the Aptera — a new electric car coming to market next year that can be powered by solar panels embedded into the vehicle itself or by electricity from an EV charger.  Combined, this electric car can travel 1,000 miles before having to stop. You can't even do that with an internal combustion vehicle.  But what makes this particularly exciting is the tech company providing the solar panels used to power this car. Traditional solar panels are not powerful or durable enough to power a 2-ton vehicle.  But the solar panels powering the new Aptera electric car are powerful and durable enough. So much so, in fact, that the company making them is now the hottest solar stock in the marketplace. The company did $1.06 billion in revenue last year and is now on track to deliver $1.26 billion in revenue this year. It's no secret that all the major electric carmakers are looking to integrate solar into their vehicles. GM, Hyundai, Stellantis, Ford, and even Tesla. But at the moment, there's only one company that can produce solar panels specifically designed to power the next generation of electric cars. And that's exactly what it's doing. I wrote about this company in a recent investment note, which you can access here. To a new way of life and a new generation of wealth... Jeff Siegel Check us out on YouTube! @JeffSiegel on Twitter P.S. Today's article was originally published by our sister publication Energy and Capital, which is solely dedicated to helping readers profit from the ever-expanding and ever-changing energy sector. 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