Oil Moving Toward $100 is Just What EVs Need

Oil’s march toward $100 a barrel is coming at just the right the time for auto makers investing billions in the switch to electric cars.

Fuel prices reached a four-year high last month, concentrating consumers’ minds on the relative costs of internal combustion versus electric motors. For companies preparing to bring a record number of electric and hybrid models to market in 2019, oil’s rally could turbocharge demand.

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Unfortunately a rising oil price will make the production and distribution of EVs more expensive too.

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1 hour ago, Adam Varga said:


Unfortunately a rising oil price will make the production and distribution of EVs more expensive too.

The same will happen for ICE's, although EV prices are dropping. So comparatively EV's make an even more attractive choice.

A peak price of $100 would be a Christmas and birthday present for renewables and EV's even if it was temporary and retreated considerably the damage would be done. 

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