RE:RE:million mile battery Oil doesn't need to be eradicated from our lives for the oil industry to be considered in decline. Oil is losing its place of predilection in the energy market. It's being gnawed at from all sides. Large wealth funds are divesting, social pressure is mounting, new technologies are replacing oil, and alternative energy sources are becoming cheaper and cheaper. It won't disappear anytime soon, but the writing is on the wall that oil companies will not see $100 barrels very often if at all, and PE ratios will be on a downward trend.
Pandora wrote:
leo101 wrote: hey red, do you think tesla's new million mile battery that will make EV's cheaper than gas will stop oil from ever getting back over $70? the oil industry is indisputably in decline, recession or no recession.
trevor erradicated for life?
How much of a new electric vehicle is made with some component of petroleum. What is the body of the Tesla battery made of? Take a look around your clothes, your house, your garage, your neighbourhood, your city and count all of the items that have some petroleum/oil based component in them and tell me what is going to replace them and then tell me that oil is going away.