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To be fair there is still huge demand for oil outside consumer vehicles. Plastic, commercial oil use, energy production, cosmetics, etc. Oil has many uses bey
by 9q 10y ago
To be fair there is still huge demand for oil outside consumer vehicles.
Plastic, commercial oil use, energy production, cosmetics, etc.
Oil has many uses beyond powering cars.
- sgolestane 10y agoPer http://www.americanenergyindependence.com/fuels.aspx http://www.americanenergyindependence.com/fuels.aspx "70% of all oil consumed in the U.S. is used for transportation"
- coredog64 10y agoElon Musk isn't building an all electric version of the 787.
- noonespecial 10y agoYet
- philipkglass 10y agoI expect commercial aircraft to remain hydrocarbon fueled for the foreseeable future. But jet fuel is only 11% of American transport fuel demand: http://www.eia.gov/energyexplained/?page=us_energy_transportation http://www.eia.gov/energyexplained/?page=us_energy_transport... (Meaning less than 8% of all American petroleum consumption, given the other poster's 70% figure.)
- officelineback 10y agoTo me, 11% of all transport fuel demand is a lot! I wonder what the balance is for trains, long haul trucks, are diesel delivery trucks in general are.
- altern8tif 10y agoWell, I wouldn't bet against him giving it a shot.
- porsupah 10y agoIt's worth bearing in mind that Airbus does have electric aviation in mind: http://www.airbusgroup.com/int/en/corporate-social-responsibility/airbus-e-fan-the-future-of-electric-aircraft/e-aircraft-roadmap.html http://www.airbusgroup.com/int/en/corporate-social-responsib... Early days yet, of course, but the groundwork is underway.
- edblarney 10y agoThe US is about 25% of the world economy and shrinking fast. Same for Europe. EU + US are about 1 Billion of 7.5 Billion people on the planet, many of whom don't have cars, but are about to be able to afford them ...
- simonh 10y agoBut for a commodity that's fairly cheap to extract, with production and demand closely balanced and diversified suppliers, even a modest fall in demand can lead to a precipitous collapse in prices as producers fight over market share.