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All Fossil-Fuel Vehicles Will Vanish In 8 Years, Says Stanford Study (financialpost.com)
Stanford University economist Tony Seba forecasts in his new report that petrol or diesel cars, buses, or trucks will no longer be sold anywhere in the world within the next eight years. As a result, the transportation market will transition and switch entirely to electrification, "leading to a collapse of oil prices and the demise of the petroleum industry as we have known it for a century," reports Financial Post. From the report: Seba's premise is that people will stop driving altogether. They will switch en masse to self-drive electric vehicles (EVs) that are ten times cheaper to run than fossil-based cars, with a near-zero marginal cost of fuel and an expected lifespan of 1 million miles. Only nostalgics will cling to the old habit of car ownership. The rest will adapt to vehicles on demand. It will become harder to find a petrol station, spares, or anybody to fix the 2,000 moving parts that bedevil the internal combustion engine. Dealers will disappear by 2024. Cities will ban human drivers once the data confirms how dangerous they can be behind a wheel. This will spread to suburbs, and then beyond. There will be a "mass stranding of existing vehicles." The value of second-hard cars will plunge. You will have to pay to dispose of your old vehicle. It is a twin "death spiral" for big oil and big autos, with ugly implications for some big companies on the London Stock Exchange unless they adapt in time. The long-term price of crude will fall to $25 a barrel. Most forms of shale and deep-water drilling will no longer be viable. Assets will be stranded. Scotland will forfeit any North Sea bonanza. Russia, Saudi Arabia, Nigeria, and Venezuela will be in trouble.
These morons at Stanford haven't factored in the imminent executive order mandating coal-fired SUVs.
Nullius in verba
Oh wait! He's serious?
*Explodes in unending laughter.*
Chas - The one, the only.
THANK GOD!!!
Someone got into the medical lab's LSD stash
When Fascism comes to America, it will call itself Anti-Fascism, and tell you to give up your guns.
Stanford University economist Tony Seba forecasts in his new report that petrol or diesel cars, buses, or trucks will no longer be sold anywhere in the world within the next eight years.
...and I thought Stanford was, like, where smart people go? I mean, I'm all for EV's and all, but nothing short of an invasion of space aliens or global thermonuclear war is gonna sink fossil fuels in 8 years. Did he stick that in a footnote somewhere?
Hell, I'd like to see what other fascinating reports Mr. Seba has published, like when when the giraffe's are going to eat our brains, or that all people will walk around around without pants by 2021, devastating the Levi Strauss Company.
I would also like to experience the "inspiration" for this fascinating report. I expect it's green and sticky and comes from a "dispensary" in return for a "prescription" you get from a "doctor" for your "anxiety".
I love California, I really do.
Take it easy, Charlie, I've got an Angle...
I once made the mistake of asking why and was told it's because I'm the right man for the job,
"Venezuela will be in trouble"
That's really going out on a limb.