MMEX Resources Corp (MMEX)

[I-Glow]

Oil will crash to $10 a barrel with electric vehicle revolution, strategist says

https://www.cnbc.com/amp/2017/10/13/oil-will-crash-to-10-a-barrel-with-electric-vehicle-revolution-strategist-says.html

While Watling explained that he did not necessarily expect such an intense decline in oil prices over the coming weeks or months, he did argue that over the long term "what happens with electric vehicles is really, really important" given that around 70 percent of oil is used for transportation.

The Longview Economics CEO forecast the price of oil would ultimately slump to $10 a barrel over the next six to eight years.