“The average middle-aged man of today will live to see the virtual exhaustion of the world’s supply of oil from wells.”
That quote was written in 1921 by a former president of the Colorado School of Mines – and for the next 100 years, various experts proclaimed we are approaching peak oil production. Today’s talk is not about production, but about demand. According to the IEA World Energy Report from today, we will hit peak demand by 2030 as we shift to more renewable sources of energy. So, in the span of eight years, we will go from record demand to demand growth stalling.
The retailer was hit by a one-two punch of higher business costs and higher promotional activity to clear inventory. The bright spot is that inventory grew far less than in previous quarters. There is a decent short position on this one . The stock has been remarkable in how unremarkable it has been. It has basically clung to C$3/share for the past 2.5 years. We will speak to the CEO on Morning Markets at 11:30 a.m. EDT.
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