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     Saarang Pilla Bewarse Username: Saarang Post Number: 262 Registered: 04-2015 Posted From: 206.29.176.75 Rating: N/A |
http://auto.ndtv.com/news/petrol-and-diesel-cars-will-vanish-in-8-years-study-16 96406 A Stanford economist, Tony Seba, thinks that the global oil business will end as soon as 2030. In a study released recently, Tony talks about the revolutionary changes soon to be wrought by electrification of the transportation. The study published by Stanford University says that fossil-fueled cars will vanish within eight years and the people who want to buy cars will have no choice but to invest in electric vehicles or vehicles working on similar technologies. Tony says that this is because the cost of the electric vehicles; which includes cars, buses and even trucks will decrease and this will result in the collapse of the petroleum industry. He goes on to suggest that in less than a decade consumers will find it difficult to search for petrol pumps, spares and even mechanics who have the knowledge of internal combustion engines. Finally, he says that modern-day car dealerships will disappear by 2024 as the long-term price of oil falls to $25 USD a barrel. He even says that there will be a 'mass stranding' of existing vehicles. According to Seba "We are on the cusp of one of the fastest, deepest, most consequential disruptions of transportation in history. Internal combustion engine vehicles will enter a vicious cycle of increasing costs. What the cost curve says is that by 2025 all new vehicles will be electric, all new buses, all new cars, all new tractors, all new vans, anything that moves on wheels will be electric, globally." |