Electric Cars Will Cause the Next Oil Crisis, page-5

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poyndexter

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27/03/16

21:48

Post #: 17367237
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Originally posted by longtermlegs ↑

A shift is under way that will lead to widespread adoption of EVs in the next decade.
By Tom Randall | Feb. 25, 2016

This isn’t something oil markets are planning for, and it’s easy to see why. Plug-in cars make up just one-tenth of 1 percent of the global car market today. They’re a rarity on the streets of most countries and still cost significantly more than similar gasoline burners. OPEC maintains that electric vehicles (EVs) will make up just 1 percent of cars in 2040.

Last year EV sales grew by about 60 percent worldwide. That’s an interesting number, because it’s also roughly the annual growth rate that Tesla forecasts for sales through 2020, and it’s the same growth rate that helped the Ford Model T cruise past the horse and buggy in the 1910s.

we calculated the effect of continued 60 percent growth. We found that electric vehicles could displace oil demand of 2 million barrels a day as early as 2023. That would create a glut of oil equivalent to what triggered the 2014 oil crisis.

View attachment 160046

One thing is certain: Whenever the oil crash comes, it will be only the beginning. Every year that follows will bring more electric cars to the road, and less demand for oil. Someone will be left holding the barrel.

http://www.bloomberg.com/features/2016-ev-oil-crisis/

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I drove behind a Tesla for about 10km on Fri arvo ... what a gutsy looking car!

I myself was close to buying a hybrid Volvo V60 diesel electric about 3 yrs ago but the price escalated beyond what I wanted to pay for a car. I had plans of installing solar panels to sell into the grid during the day to compensate for charging over night. It was never completely about economics. Maybe I will look into it again in a few years.

Dex

ELK Price at posting: 7.7¢ Sentiment: None Disclosure: Not Held
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0 Great analysis

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Electric Cars Will Cause the Next Oil Crisis, page-5

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