4 ms·
Had a tough time finding the statistic, maybe it has changed a bit since 2009 [1]. It seems like those uses are a tiny fraction of what we use oil for. Transpor
by jfoutz 11y ago
Had a tough time finding the statistic, maybe it has changed a bit since 2009 [1]. It seems like those uses are a tiny fraction of what we use oil for. Transportation is like 70% of the usage. 1 cent worth of lubricant turning into 10 cents worth of lubricant doesn't seem like a big deal when you buy a $10 electric motor.
Oil got expensive. People and industry got more efficient at using oil. Oil is cheap. who cares? we're much more efficient at using oil. The painful part is switching to 30mpg cars.
To put it another way, pre-boom you budget $100/month. gas gets expensive, and turns out to be $200/month. People carpool, or turn down the thermostat, or get a more efficient car, to get back to the $100/month budget. Gas prices, fall so under the new system it's only $50/month.[2]
That $50 is nice, but not as nice as that $100 was painful.
[1] http://alternativeenergy.procon.org/view.resource.php?resourceID=001797 http://alternativeenergy.procon.org/view.resource.php?resour...
[2] https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=EMM_EPM0_PTE_NUS_DPG&f=M https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=E...
- exabrial 11y agoYou're right! Much like helium, we burn away an important resource. It cracks me up still we tax (non-fuel) uses of oil.