A crisis is looming over the oil producers, with another oil crash forecast and this time, according to Bloomberg, among others, there may be no end in sight.
The potential for no recovery isn’t a distant future. It may happen as early as 2025, if electric vehicles begin flooding the market. Starting in 2014, the first serious dent in the oil market occurred with the over production of 2 million barrels – a number the market simply couldn’t support. Up until now, it’s been a flow on effect, with oil prices rising and falling like the tide.
Bloomberg’s Sooner Than You Think, an animated series that was just released, explores “some of the biggest transformations in human history that haven’t happened quiet yet.” One of the analyses covers the production of electric cars.
The production – which is now witnessing big companies pouring millions into manufacturing electric cars, has prompted closer examination. BMW and Nissan, along with Ford, are just some of the companies already investing in their future away from the oil industry. According to Tesla and Chevy, electric cars may be on the market within the next two years for around $30,000, with a 200-mile point A to point B distance.
But in OPEC’s ‘infinite’ wisdom, they still shrug at what they consider to be of little importance. Exxon’s forecast suggests only 1 percent of global car sales will represent electric cars – and that’s a forecast for 2040. “It always happens this time of the year,” Whiting Petroleum CEO Jim Volker had predicted, “… it’s kind of a decline in the driving market after the summer holidays.” Hmm, not really.
The free fall of oil prices is still ricocheting across the globe, with a price crash now forecast for coming months. It is possible that the price will fall to as low as $20 a barrel. If electric vehicles (EVs) make it onto the market in the coming 24 months, there’s no telling where the free fall will detonate. There’s one thing for sure, only a small percentage of EVs will be enough to cause an oil glut.
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why not solar powered and motion powered??? why not electricity?? is it needed a so slow change to electricity?? why do we people need to pay power then??? so we will still need money??
are these people playing with me??? the cars only need solar panels and the houses… so what will happen?? the cars while inside the garage will get the solar energy from the solar panels of the house and when outside it will be always possible to catch light from the sky and charge the cars from light energy with ‘solar’ panels from the sky because when the cars are outside the sky is always over the cars…
the people have to realise that they have to close tap by tap as possibilities to the elite… energy and everything else is free, because we are earth beings and can collect it in our houses… food, water, air, shelter, energy, wood and all the other things can be free… changing the future… and remember that the word will always be freedom freedom freedom, nature nature nature…
We can already solar, wind electricity, we can already many other things but everything is secret (for us) because the oil giants, politicians need more money. It’s all about money but we are stupid, we pay …
Incorrect its about power. If you’re hungry and I have the world’s food supply you would do what I wanted you to, so you may eat. Really all along you could have hunted and farmed yourself. So we just got lazy is all that happened