Savvy Traders are Focusing on These New Oil Financial Assets – Introduction
In the past century, the critical role of engines became known as the industrial revolution took charge. With the revolution, people could now fly around the world, drive well-built cars, and use large machines to produce products in large scale. All this led to the increasing demand for crude oil, which was the commodity that powered the engines. Today, oil exporting countries like Saudi Arabia and Norway are some of the richest in the world. Crude oil has produced hundreds of billionaires and employed millions of people.
As the technology has improved, the need for a cleaner source of energy has increased. Today, people from around the world are opting for a better alternative to crude oil, which is efficient and has less emissions. With the climate change debate still raging on, people want alternatives in all sectors ranging from driving to home lighting.
This has led to intensive research on alternative sources of energy to substitute the carbon-emitting crude oil. Like crude oil did, the new form of energy will make many countries rich. Many people too will become wealthy by investing in the new economy.
Already, electric vehicles are taking over the world. These vehicles have been around for decades. However, people did not love them because they were always known for their slow speed and ugly appearances. The cost of powering them too was enormous. Then, a few years ago, Elon Musk, who was also a co-founder of Paypal founded a company that made electric vehicles look better and have a better performance. Today, his company is worth more than $50 billion and is more valuable than Ford Motors and slightly lower than General Motors which sell millions of cars every year.
One of the commodities that will be very important will be Lithium. This soft, silvery white alkali metal is one of the most important components of batteries. In the past, it was used for the manufacture of small vehicle batteries and other lighting batteries. As the popularity of electric vehicles increase, the demand for the metal will continue, making the people trading it wealthy. While other substitutes for Lithium are being developed, there is a consensus that lithium will be the primary raw material for batteries. Remember that many countries have announced that they will phase out combustion engine vehicles in the near future. At Day Trade The World (DTTW), you can trade lithium futures and Lithium companies stocks.
Another commodity that you can trade with is copper. Copper is known for its ductility and conductivity. While copper is already used in vehicles, more of it will be used in electric vehicles. This means that the demand will continue to rise. As the demand rises so will its price. Therefore, copper is an ideal commodity that you can trade on. You can do this by buying copper futures using the DTTW platform. Alternatively, you can trade in copper mining companies like Anglo American and Glencore.
Another way to take advantage of the new shift is to trade the stocks of electric vehicle manufacturers. Companies like Tesla, Daimler, and General Motors are investing billions of dollars into EV vehicles. You can also trade in these companies using our platform.