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[–] 0011011000111001 0 points 5 points (+5|-0) ago 

This is nothing against you OP, but damn am I getting sick of videos becoming the new way to deliver news. I can't always watch videos at work nor do I want to.

Honestly though, there will be a huge demand for oil for some time. Electric cars need less but they still need lubed up.

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[–] Smokrates [S] ago 

I prefer print too.

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[–] Riva ago  (edited ago)

The main point of the video is that the oil market doesn't need to collapse for the oil market to be bigly effected. The video (doesn't say bigly) says that you need the electric cars to offset about 2 million barrels per day.

Based on Elons factories capacity going from 25,000 cars/year to 500,000 cars/yr around 2020 the author estimates that tipping point to be roughly 2023. Same oil crisis numbers just the offset is not a glut at refinement, is at the pumps.

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[–] tame 0 points 1 point (+1|-0) ago 

That's electric cars alone, though. The combination of cheap oil from oil sands, cheap gas from fracking, and lower oil/gas demand for power generation thanks to massive renewable energy growth, is already doing a number on oil companies. Electric cars aren't a knockout punch, they're just another nail in the coffin.

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[–] thrus ago 

Also most are charged at night when solar isn't an option to boost the grid.

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[–] piratse 0 points 2 points (+2|-0) ago 

The electric car sales are VASTLY over estimated right now. You still have to pay for increased electricity, and the more cars sucking off the grid, the higher the Kw/H will creep up. Negating most savings. The range is still an issue. Charging at work/shopping etc. when there are dozens in the parking lot is an issue. You need two cars now if you travel any long distance. Stopping for hours/even 30 minutes EVERY 200-300 miles on a road trip is insane. The mining to create these batteries is probably worse than oil drilling. The prices of precious metals used for batteries will increase as demand increases. The batteries having to be replaced as they lose range over the years negates all cost savings from fuel. You DO save on maintenance which is nice. Electric cars aren't viable enough right now. I think they need to perfect algae based oil or hydrogen fuel cell. There are real drawbacks with electric cars that get ignored, and right now people are buying them to jump on the cool train. But until they solve the other issues, they will peak quickly.

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[–] Smokrates [S] ago 

Buying an EV and putting in a few PV panels to collect energy would be a good pairing. I think that PV panels on the vehicle surfaces will help some as well.

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[–] JunOS ago 

When an electric car can haul what a diesel does - Ill entertain the thought.

For now - Im good.

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[–] Smokrates [S] 0 points 1 point (+1|-0) ago 

Many people are in your boat on this. It won't take all or even most people changing over to electric for it to affect the oil market.