The Peak Oil Myth and the Rise of the Electric Car

There are more than one billion cars on the road worldwide today, and only one tenth of one percent of them have a plug. OPEC contends that even in the year 2040, EVs will make up just one percent. But don't be so sure. By 2020, some electric cars and SUVs will be faster, safer, cheaper, and more convenient than their gasoline counterparts. What if people just stop buying oil? In the first episode of our animated series, Sooner Than You Think, Bloomberg's Tom Randall does the math on when oil markets might be headed for the big crash.

COMMENT:

Wouldn't it be wonderful if we actually stopped uncontrollably using oil?  If we actually did manufacture automobiles and trucks that wouldn't require consuming oil we'd have oil left over to use it for other products we seem to continue to need...like clothing and the like.