Quote:
Originally Posted by golfing eagles
No argument---it is self evident. Once cars are all EV or hydrogen, gasoline will be virtually non-existent. But when will that be? American business is notoriously short-sighted, looking 2-3 years ahead while competitors like China and Japan look 20 years ahead. For that reason I just don't believe that oil companies are reducing production and foregoing profits NOW in anticipation of an uncertain future in which their product MIGHT be vastly reduced. Of course, this is highly speculative. Right now, despite the rise in price, fossil fuels are still the cheapest form of energy. EV's of any quality tend to be quite expensive, and hydrogen is a great idea that is many years away if ever. Personally, I'd be a bit leery of parking the Hindenburg in my garage.
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What will dictate the speed of EVs taken over is the demand. Right now you have people paying a high price for an EV and are willing to wait months for delivery.
Even though there are still issues with distance and charging times.
Car companies and battery manufactures see this and will do whatever they can to solves these problems as quickly as they can. You also have the states investing in charging stations and people realizing they may never have to visit another gas station. This is eventually going to affect the oil companies bottom line. I don't think the oil companies are evil, they're doing what is in the best financial interest of their company and their stockholders.