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M.A.S.

Will Oil Die?

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M.A.S.    3

I just read an article about a slew of new electric vehicles from companies I've never heard of, that will hit the auto market in the next few years. If there is a push away from oil, when do you think that time will be such that it would affect our investment in Iraq's oil supplies and currency?

thanks!

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alreis    237

We have had petroleum powered cars for more than a century, I think it will take that many years to see the next generation of power source for transportation.

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md11fr8dawg    549

Oil is the engine that runs the world and there probably will not be a replacement for it even in our children's or grandchildren's lifetime. The thing you need to worry about is with the refinery in Texas offline due to Harvey, 20% of the the refining capability will be lacking until it is back up and running. Gas prices will rise rapidly here. If and when we release our reserves on the market, it will cause the price of crude to drop, which is not good for Iraq, but very good for our economy. Many countries like the mE and Russia depend on crude oil prices being high to survive. When the price drops below $50.00/barrel their economies suffer.

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jcfrag    1,469

If only it were cars that depended the oil industry.... Plastics can't be made without oil either, and just look at what a catastrophe plastics have become to the worlds oceans ands their inhabitants.....   :angry:

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Theseus    1,216

Everything you touch, everything you do, everything you rely on has an oil related component beyond transportation. Oil is such a vital integral part of all technologies (technologies does not just refer to computers) we could not function as a society today without it. Oil is so deeply embedded into the infrastructure of our lives removing it completely would make the world come to a standstill. Think about this, before we extracted that bubbling crude from the ground, we used various other types of oil, olive oil, whale oil etc., for various technologies going all the way back to the BC era. You think I exaggerate, name a product, any product, that is used today and you can find  a non-transportation component of oil used in the creation and/or use of that product. To say oil is only used in transportation is so banal that people would believe anything. We will never get rid of oil even if we eliminate it from its transportation use.

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