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Plunging oil prices 'could go even lower for even longer'

Discussion in 'Energy, Environment, and Policy' started by voyager, Jun 23, 2017.

  1. voyager

    voyager Member

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    The possibility of what the energy industry calls a "lower-for-longer" scenario is gaining ground. It could accelerate the auto industry's transition from fuel-efficient cars to thirstier sport-utility vehicles and give Americans unexpected savings in their summer travel budgets, while also raising the prospect of energy worker layoffs if prices dip further.

    Plunging oil prices 'could go even lower for even longer'

    Makes me curious how the renewable energy industry will do, and the electric car market...
     
  2. voyager

    voyager Member

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    Boy, is the time interval shortened in which the topic starter can change his text?
     
  3. ecarfan

    ecarfan Well-Known Member

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    And yet hundreds of thousands of people have put down $1,000 for a Model 3 reservation.

    The transition to EVs will happen no matter how long oil stays at $45/barrel.

    And solar and wind continue to grow significantly every year, driving down the cost of electricity.
     
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  4. RichardC

    RichardC Cdn Sig & Solar Supporter

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  5. David99

    David99 Active Member

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    Gas prices are only one aspect that people consider. Up to now EVs were not a cheaper alternative! All Teslas certainly are more expensive than most other cars. There are equal ICE cars to the Model S or X that have matching features, in many cases even beat the Teslas, are much cheaper to buy and have have lower insurance rates. Even if you drive a lot, you are not saving any money buying a Tesla. A lot of people who would not consider such a high priced car purchased a Tesla. They knew very well they will not save money, yet they did buy an EV. It's clear that the deciding factor is not how expensive or cheap gasoline is. Lower gas prices will have very little impact on EV sales.

    We are educated enough to realize how bad the entire chain of oil is. From drilling, buying it from hostile countries to burning it in our environment. I think the majority of people do realize that burning gasoline isn't a good idea. The lack of a reasonable alternative and some bandaids like catalytic converters and 'more efficient' cars, helped us pretend to have a clear conscience. But we know it's bad and we know EVs are a better alternative. Back in the early 90s, when I bought my first EV, the whole concept was really a terrible alternative and solar was darn expensive. These days, tons of houses have solar because it actually saves you money and it can power your car in a clean way. I think these bigger and more important things have been making people buy EVs and will continue to even more in the coming years. Oil prices don't make a difference. Oil prices will drop more and more in a desparate attempt to save the fossil fule industry, but it won't make a difference. If anything dropping oil prices will help! The lower the oil prices are the less it becomes economical to build more drilling stations. Fracking becomes totally uneconomical, A lot of the activities that are really bad for the environment will become uneconomical and will seize.

    I think the future looks good!
     
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