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The Tesla shock

Tuesday, 22 November, 2016

Global gasoline consumption is topping out predicts the International Energy Agency. The reason: more efficient cars and the advent of electric vehicles from new players such as Tesla Motors. Javier Blas and Laura Blewitt of Bloomberg put it like this: “Tesla Shock Means Global Gasoline Demand Has All But Peaked“. Snippet:

“Gasoline has been the world’s choice to power automobiles. From the 1950s onward, when Henry Ford’s dream that every middle-class American could own a car became reality, gas stations sprung up next to drive-through restaurants and strip malls and transformed the landscape of America and economies across the globe.

Now, however, car companies — most obviously Tesla, but also incumbents such as General Motors Co., BMW AG and Nissan Motor Co. — are putting their money, and reputations, behind electric vehicles.”

Note: David Stern, energy and environmental economist and professor in the Crawford School of Public Policy at the Australian National University, tweets “This article isn’t an accurate representation of what the WEO says.” Here is the WEO (World Energy Outlook) 2016 presentation.


Comments (1)

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  1. Henry Barth says:

    Peak oil?

    The US Geological Survey said Tuesday that it assessed what could be the largest deposit of untapped oil ever discovered in America.

    An estimated average of 20 billion barrels of oil and 1.6 billion barrels of natural gas liquids are available for the taking in the Wolfcamp shale, which is in the Midland Basin portion of Texas’ Permian Basin.

    Based on a West Texas Intermediate crude oil price of $45 per barrel, those deposits are worth about $900 billion.

    http://uk.businessinsider.com/usgs-estimates-20-billion-oil-barrels-in-texas-wolfcamp-shale-formation-2016-11