Cathie Wood calls for an immediate drop in oil prices. She compares the situation to that of the early 1900s’ extinction.

The rise in oil prices this past year was more a result of demand than supply. Whale oil suffered the same fate at the beginning of the 20th Century and its prices plummeted dramatically. It is possible to make a donation if you are interested. @ARKInvestWood stated in a Twitter message Thursday evening that “if the research is accurate, oil prices will experience the same fate for whale oil prices.”

This year, the price of U.S. crude oil rose sharply as demand rebounded after plummeting during the pandemic. U.S. West Texas Intermediate (WTI) crude futures sat around $74.38 a barrel on Friday, on track to post its sixth consecutive week of gains. It is expected to rise more than 53% by 2021. Futures contracts traded at a negative price due to collapse in demand during the initial pandemic.

Wood believes that the disruption of supply is responsible for rising oil prices. While economists and analysts often see this as a result of higher demand, Wood disagrees. According to Wood, the innovation investor believes oil prices will decline in much the same way as they did during early 1900s. This was when prices for whale oil plummeted and other fuels replaced them.

Wood is a strong believer in technologies that can be used to bypass oil. Wood supports electric vehicles and companies that are battery-related. Wood, a well-known investor, believes that deflation in the long-term will resume as technology continues to revolutionize many industries.

Earlier this week, the Organization of the Petroleum Exporting Countries (OPEC) stated that oil demand would continue growing until 2035, even with more efficient energy sources and increased use of the fuel by developing countries. OPEC predicts then that oil demand will stagnate.

— with reporting from CNBC’s Pippa Stevens.