EFFECT OF ELECTRICAL VEHICLES ON OIL PRODUCTION

I have always wondered if the push for electrical vehicle (EVs) or the hybrid of them, will result in the reduction in the world oil production. This makes me wonder what will happen to the economies that rely on oil for their budgets. Is it not time that governments of those countries start investing in oil infrastructure now rather than relying on oil majors who may dis-invest and follow the noise of renewable energy leading to sharp decline in oil demand? Is this new technology on EVs not likely to be too destructive and be sudden so as to shock the world? Are the powerful nations likely to go along with the environmentalist to move towards EVs and hence cut the livelihood of the oil dependent nations?

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Apparently so I've been told many times this isn't an issue, for many reasons:

1)EV's aren't viable anytime in the next couple of decades, just staying a niche product.

2)EV cars are coming but that's it all the rest of transport will require fossil fuels.

3)New tech will save the ICE.

4)Other uses for oil and other fossil fuels come in such as chemical feed stock.

5)If the industry sticks it collective head in the sand it will all be fine.

That's 5 that come off the top of my head but I've heard allsorts.

Lets look at those:

1)Sales of EV's are rocketing Canada last quarter 8% of market, UK 7% and there is far more demand than supply at present. Then the technology is rapidly moving forward and as larger amounts are built costs fall.

2)Batteries are starting to find themselves in larger and smaller vehicles as the batteries improve, even boats and planes.

3)Increasingly complicated ways are being found to get a bit more from each drop of dinosaur juice, but this makes for an engine that is more expense to buy and maintain and becomes less competition to EV's.

4)Often I see arguments been made in a very one dimensional way, looking at only one technologies advancement whilst ignoring the rapid disruption occurring across the board. It's not as if hydrogen and carbon are rare and ways of sustainably getting them and then joining them together in the desirable manor are being developed.

5)Well that one seems to be working for oil and gas although it didn't workout to well for coal.

We are coming up to a disruption across many industries for those that don't adapt it's going to be hard. After environment I think one of the strongest arguments for EV's and renewable energies is as the fossil fuel industries fade less money will be spent in unpleasant ways.

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