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The Electric Car's Shrinking Role in Reducing Oil Demand
- worldvoyageur 5y agosummary of some highlights: - over 90% of crude oil goes to transportation - diesel and gasoline are the large majority of demand - electric vehicles are reducing demand for oil - electric vehicles are viable and economic for buses and heavy haul trucks - however battery production is a major bottleneck, priorizing higher margin cars over battery powered trucks and buses - synthetic fuel (electricity plus atmosphere turned into gasoline, diesel or jet fuel) is viable at ~$12/MWh when oil is $60/barrel. - cost curve of renewable electricity suggests that synthetic fuel may be economically viable in a few years - all this has serious long term implications for the oil industry