Quote:
Originally Posted by Wormius
Maybe, but we are only talking about newly produced cars. How long will it take to really phase out existing gasoline fueled vehicles from the world? Maybe another 10-20 years once vehicles with gas engines stop being produced? The impact of transport trucks, aircraft, boats I am not sure about in the future.
I am pretty keen on seeing what Volvo comes up with with their cars, and if they're transitioning their transport truck business to electric or stop producing them altogether.
|
Obviously there will be a cycle that the industry will go through to move away from the internal combustion engine, but now many people buy used cars? Next year everyone will be buying the fancy new 2018 models, and if just the cars would all be electric that would be approximate 550,000 cars PER month that do not require fuel, JUST in North America. Imagine that on a bigger scale, and now imagine how the demand for oil will drop per month.
We are already seeing the impact cheap shale oil has on the Alberta economy, but imagine what happens when you have cheap shale oil combined with demand for oil dropping per month and accelerating from month to month after that.
Up till now the boom/bust cycles in the oil market had nothing to do with having to fight with a cheaper alternative energy source such as electric.