Business Insider has interviewed Jim Chanos, who has made a name for himself in investing as a specialist for shorting companies. Chanos thinks people should short oil companies. Here is his reason as stated in that interview: I think if you were to look out five or 10 years, if I was a member of OPEC I would be pumping as much as I could today while it’s worth something because it might not be worth a whole lot by 2030. The interview goes on to state the reason why he thinks that oil might be “not worth a whole lot in 2030”. That’s because he expects cars to change to electric vehicles. And he notes that 80 percent of oil demand comes from transport. Obviously, if members of OPEC take his advice and try to get it while they can, that will be the exact opposite of what they should do under the Phaseout Profit Theory I am discussing here. All things equal, it will lead to even lower oil prices in the short term. Increasing supply by “pumping as much…
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