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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.
Don't forget that all the "facts" are provided by anonymous sources that are not authorized to talk to the press but are doing it anyway. And all the editors and reporters hide all these anonymous sources behind the press shield laws. So the public should just assume all the "facts" are true. Just look at all the major media outlets who have abandoned all sense of objectivity and neutrality when publishing their news articles. They are all so fixated on attacking anything the President does without realizing they are damaging themselves more than the President. The current President should not be given a free pass on all his actions but if you are going to publish information detrimental to the President they need to make sure everything they doing is backed up by facts and not be driven by political dogma. And when Trump is no longer President those who come behind them are going to also be victims of the same tactics being thrown at Trump. And those idiots in Congress who accuse Trump of telling lies are doing the same thing. One example would be firing the head of the FBI. The democrats and Clinton supporters have being trying to get the FBI director fired ever since he started investigating Clintons e-mail situation. Now Trump fires him and every single person who had been screaming about firing the guy are now upset that Trump fired him. Mean while the Press is basically accusing Trump of being a Russian agent because he communicates with Russian diplomats. They accuse him of divulging what they claim is super secret information about the people who have learned how to turn a laptop into a bomb. A President can declassify any information he wants. They totally ignore the fact that the Russians probably had the same intelligence information themselves so what is the big deal? The ones screaming about this nonsense say countries who share intelligence information with the US are not going to share information going forward. Did the people pushing this ridiculous piece of BS actually take a poll of all the countries who the US shares intelligence with and ask them if they were going to stop intelligence sharing? Or did they just make the shit up? Maybe they got the information for their stories from an anonymous people who are not authorized to speak out on the subject? Trump may be an idiot but the honor less morons in both the political and journalistic arenas are setting some terrible precedents and act like the behavior we are witnessing now will suddenly end when Trump is no longer President.