With crude oil now officially back over $100 it’s our sense that markets will begin an intense focus on electric vehicles (EV). Rather than TIPS, the new breakeven obsession will be at what price of gasoline does an electric vehicle make economic sense.
One problem is the grid, which still needs energy from coal or natural gas, couldn’t handle a massive surge in EV battery recharging. But technology is progressing, our friends, as the picture of Honda’s solar recharging station in the picture above and the video below illustrates. Almost 75 percent of U.S. crude consumption is used in transportation.
These are no longer just concepts but new technologies already in the market place and we’re much closing to the “tipping point” than most think, in our opinion. In five years, the world of transport and crude oil is going to look a whole lot different, either by choice or by necessity. (click here if picture and video are not observable)
“The Stone Age did not end because of lack of stones, and the Oil Age will end soon and not because of lack of oil.” – Sheik Ahmed Yamani, 2000