Oil Rich Countries Should Start Thinking Of Other Revenue Sources As 2020 Proves That The Future Is Electric

[Simiyu22]

@Jobi

The US had a huge hand in it. If Uncle Sam decides to cripple you, utaimba. Their only option was to sell their oil to the Russians. Not too sure though

Aggrevated the situation, yes. Caused it, no. The US sanctions started in 2017. Remember that Chavez died in 2013. The problems began even before Chavez died.

[BaldCoomer]

@captain obvious

Electric cars have been around since the late 1800s. It’s the Texas oil barons that steered the world towards gasoline for their own benefit. Elon Musk showed them the middle finger by using his massive resources and networks to force Tesla into the market. Once the Chinese decided to invest in electric vehicles, there was sufficient momentum to challenge petrol and diesel engines. But even with electric vehicles, oil-rich countries will still enjoy good profits for 30 to 50 years. Increased demand for electricity will mean some countries will need to invest in diesel turbines to generate it. Even coal with all its negative attributes is still getting mined. Demand for oil will reduce but not that sharply.

https://www.youtube.com/watch?v=XlMFLPGUiQE

Back then the battery tech was shit too. It took hours to fully charge a battery. Those who claim that oil will phased out completely forget that the petrochemicals industry does exist.

[MojaMoja]

@BaldCoomer

Back then the battery tech was shit too. It took hours to fully charge a battery. Those who claim that oil will phased out completely forget that the petrochemicals industry does exist.

The asphalt roads we drive on has a binding material that comes from crude oil. Our plastic and tires come from crude oil. It will be another 60 years before we completely move on.

[Sambamba]

@BaldCoomer

Back then the battery tech was shit too. It took hours to fully charge a battery. Those who claim that oil will phased out completely forget that the petrochemicals industry does exist.

The industry has no future and will no longer as big as it was once the developed countries transition fully to electric cars by 2040. Industrial uses for oil account for only a quarter of consumption.
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[inzhener_otmetka]

@Mimi Huwa Namwaga Ndanii

European countries will have phased out ICEs by 2025, thats given.

4 years time…