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Why is it a bad idea to buy a new gas car? ExxonMobil is not going to stop pumping oil out of the ground.
by massysett 4y ago
Why is it a bad idea to buy a new gas car? ExxonMobil is not going to stop pumping oil out of the ground.
- twobitshifter 4y agoGas prices ice bans and global warming. If you buy a gas car today, I wouldn’t expect much in terms of resale value.
- bryanlarsen 4y agoMy reasons: in 10 years time most local gas stations will be closed, 95% of the demand for used cars will be for electrics and 97% of the supply will be gasoline so the car will only have its scrap metal value. But most people aren't thinking that far ahead. They just know I can recharge my car for $10 but it costs them $100 to refill theirs. They know that electricity prices are a lot more stable than gas prices.
- hotdogrelish 4y agoI agree with your general sentiment, but I think this timeline doesn't necessarily extrapolate well for the United States. The average age of a vehicle on the road in the US is about 12 years - aftermarket suppliers as well as oil/gas companies have a very strong incentive to plan that far ahead in order to keep up with the demand. Especially given that the quantity of gas vehicles on the road will be, as you say, such a large percentage of the market.
- bryanlarsen 4y agoMiles/year of old cars is a lot less than new cars. So demand for gas in 10 years might be about half of what it is now. Some stations will still do well, but a lot of marginal stations will disappear.
- navalsaini 4y agoFuel can also be delivered at ones home or people can install their own fuel tanks that can last a few refills. Just a thought.
- colinmhayes 4y agoGas exploration is way down. No gas production won't stop, but supply growth seems to be completely stalled while demand is not due to developing countries continuing to get richer. Gas will likely continue to be expensive as we transition away from fossil fuels.