Vitol Group, the world’s largest independent oil-trading firm, has been startled by the prospects of peak oil demand as it must diversify operations today to survive the decade. Vitol recently formed a new business venture called Vava Cars, aiming to become “the most trusted car transaction platform in the world,” the company states on its website.
Vitol is a top energy and commodities trading firm globally, with over five decades of operating in financial markets. In 2019, the trading firm bought and sold more than 8 million barrels of oil and petroleum products per day.
The company is getting into the used-car business with an exclusive launch of its second-hand vehicle transaction platform in Turkey and Pakistan. Further rollouts of the platform are expected in other countries in the coming months.
“Our revolutionary new service takes the hassle out of second-hand trading vehicles and allows consumers to sell and dealers to buy with confidence,” Vava wrote on its LinkedIn profile. “We are the future of used car selling and buying.”
Bloomberg said Vitol’s launch of the platform is a means to diversify its “core business of buying, blending and transporting oil and refined hydrocarbon products amid the transition to greener fuels.” The move also outlines the firm sees doom and gloom in energy markets as the peak oil demand could be sometime in this decade:
“While Vitol has said it doesn’t expect global oil demand to peak until at least 2030, it has already moved aggressively to diversify some of its business away from oil. The Rotterdam-based company has made investments in wind, solar, and battery storage while recently beefing up its power trading business. It’s invested in one company that converts plastic into diesel and another that uses coal to create hydrocarbon liquids. It’s also bankrolling a proposed carbon capture and hydrogen project in the U.K.,” said Bloomberg.
The launch of Vava has had perfect timing as used car prices in Turkey have been on a tear this year. Bloomberg explains soaring used car prices is because a shortage of new ones as people are using vehicles to hedge against rapid inflation as the value of the Lira plummets.
Used Car Prices In Turkey
Vitol’s access to low-cost capital will expand Vava to one day become the world’s largest used car salesman. As for what the trading firm gets into next, as peak oil demand could be ahead, is anyone’s guess…
God often uses men who are not of the best moral character. Pharaoh, Nebuchadnezzar, Cyrus, Herod, and Trump (amongst others), to accomplish His will in events He orchestrates during human history. We either trust the sovereignty of God or we don’t. Nothing happens apart from Him…
The best index to a person’s character is how he treats people who can’t do him any good, and how he treats people who can’t fight back…
The Birth Pains Are Growing Stronger….
One of the signs of ruling class collapse is when they can no longer enforce the rules that maintain them as a ruling class. When the Romans started making exceptions to republican governance, it was a matter of time before someone simply decided the rules no longer applied to them. Perhaps the robot historians will consider Obama our Marius or Sulla. Maybe that person is in the near future. Either way, the rule of law is over and what comes next is the rule of men.
“Don’t piss down my back and tell me it’s raining.” Outlaw Josey Wales
WE NOW LIVE IN A WORLD THAT IS PURE FABRICATION
My job is protecting children. It has taken me from big cities to rural outposts, from ghettos to penthouses, and from courtrooms, into demonic battlefields. But whatever the venue, the truth remains constant: Some humans intentionally hurt children. They commit unspeakable acts—for their pleasure, their profit, or both. StevieRay Hansen, CEO The 127 Faith Foundation
We most recently described the Fed’s stealthy plan to deposit digital dollars to “each American” during the next crisis as a unprecedented monetary overhaul, but…Read More
The Comptroller of the Currency has finally handed down its punishment for the compliance failures that helped bring about an end to the tenure of…Read More
Since launching its last major international expansion push in the late 1990s, Deutsche Bank has become knonw – particularly over the last ten years –…Read More
“Digital Euro” as It Begins Experiments on Digital Currency Launch — the Banking Industry Is Very Concerned Digital Currency Will Kill the Banking Industry
As the world obsesses over Trump’s taxes or whether or not he is using oxygen during his covid hospitalization, the biggest overhaul in monetary and…Read More
This is Part 1 of a 4-part series. fi·nan·cial·i·za·tion /fəˌnanCHələˈzāSHən, fīˌnanCHələˈzāSHən/ noun The process by which financial institutions, markets et cetera increase in size and…Read More
Former Deutsche Bank AG traders Cedric Chanu and James Vorley were convicted for manipulating gold and silver prices on Friday after three days of deliberation…Read More
“An Extremely Dangerous Game” – Central Bankers ‘Extend & Pretend’ Has Increased Risk Of “Catastrophic Collapse”
In recent weeks, there has been a lot of talk about the role of the world’s central bankers going forward. With that in mind, now seems like…Read More
Speaking at the Atlantic Festival recently, Apple CEO Tim Cook discussed the antitrust issues that the tech giant is facing amongst a number of other…Read More
US equity futures were subdued and European stocks rebounded from an early selloff as markets tried to stem the Wednesday rout sparked after a range…Read More