Post by
goodtoreadthis on Jul 05, 2018 4:49am
LI vs OIL GAS
Big Oil, Utilities are Lining Up for an Electric vehicle War. Source: Bloomberg 2/7/2018
BP and Shell have bought EV charging companies and power utilities are boosting sales to homes, chargers on roads. A red-hot EV market has triggered a face-off between big oil and power utility companies.
My take: An interesting dynamic between the two biggest sectors of the energy space is hotting up. This will be interesting, given the never before convergent interests of these two Titans - electric utilities and oil giants. In this case there are no historical precedents by which to judge the outcome. On one hand the oil giants are jostling for a place at the EV table in order to mitigate the future erosion of oil demand by buying charging companies. And on the other, the utility companies see an expanded market for electricity use. Clearly, a battle royal of competition is about to take place: a battle that plays into the hands of EV auto manufacturers and lithium miners alike. I've said it before and I'll say it again, COMPETITION is the ultimate driver of progress, and it will add even greater impetus to the EV/battery revolution.