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Oil is used for many things [1][2][3], not just electricity generation. At this point, the falling price of solar only really affects a small subset of oil's po
by niftich 10y ago
Oil is used for many things [1][2][3], not just electricity generation. At this point, the falling price of solar only really affects a small subset of oil's potential customers.
[1] http://www.eia.gov/energyexplained/index.cfm?page=oil_use http://www.eia.gov/energyexplained/index.cfm?page=oil_use
[2] https://www.statista.com/statistics/307194/top-oil-consuming-sectors-worldwide/ https://www.statista.com/statistics/307194/top-oil-consuming...
[3] http://alternativeenergy.procon.org/view.resource.php?resourceID=001797 http://alternativeenergy.procon.org/view.resource.php?resour...
- Arnt 10y agoAbsolutely. Its price is remarkably sensitive to changes in production/demand, though. Minor changes in production/demand have caused wild price swings in the past. Take away 5% of the demand and the price might drop wildly. How might that happen? According to the graphs/tables you link to, that would require that 7-15% of road-related demand shift to electric vehicles in the next decade or two, and the corresponding power generation to solar. How likely is that? Doesn't seem farfetched to me. (I'm moving some money around right now, as it happens, when it's done it'll be invested in something effectively like "index fund minus oil and coal".)