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Short of a revolution in Saudi Arabia, or something along those lines, oil/gas costs aren't going to go up 10x. Although gas isn't perfectly linked to oil price
by greedo 11y ago
Short of a revolution in Saudi Arabia, or something along those lines, oil/gas costs aren't going to go up 10x. Although gas isn't perfectly linked to oil prices, a barrel of oil isn't going to hit $450 anytime soon. There's far too much accessible oil at under $100/barrel for this to occur.
- kirrent 11y agoExactly, people seem to forget how many oil sources are out there which become profitable at about $100 a barrel.
- csours 11y agoAnd MANY oil substitutes start making sense around $150 a barrel.
- aidenn0 11y agoIn addition, the fuel cost-per-mile (so I'm ignoring maintenance), is capped at about 30-40x that of an electric as we already know how to directly convert air and water into gasoline or ethanol substitutes at approximately that energy ratio (~10x the chemical energy, plus ~3-4x the thermodynamic efficiency of car versus battery cycle)