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On the flip side, the rising cost of crude oil means more demand for alternatives (ie, electric) and investment in non-fossil fuel energy sources.
by xyst 5y ago
On the flip side, the rising cost of crude oil means more demand for alternatives (ie, electric) and investment in non-fossil fuel energy sources.
- idiotsecant 5y agoHow so? Almost no energy production in the west uses crude. It's nearly all natural gas, coal, nuke, or hydro. You might make the argument that rising fuel prices raise the price of everything else, but you can make that argument about literally everything, renewables included.
- xyst 5y agoI was referring to transportation sector, not the energy production. IIRC, 70% of crude oil is used in the residential (truck/car) and commercial sectors. There are some other applicable sectors like roads and lubricants but account for a few percentage points. In the past increases in crude oil would cause increases in sales of high mpg vehicles. I remember when crude was $100 a barrel, the prius was flying off the dealerships. With newer technologies and alternative fuel sources (electric), we should see similar trends with electric vehicle adoption if the price of crude should continue to climb.
- gonzo 5y agoHave you looked at Hawaii?