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Electric vehicles will kill global oil industry by 2030, says Stanford economist

May 11, 2017 by Ronjoy Bezbarua

(Source: The American Energy News) The Stanford economist, Tony Seba, released a landmark study Thursday about the revolutionary changes soon to be wrought by electrification of the transportation sector. According to him, the emerging electric vehicle “transportation as a service” business model kill the global oil industry in 10 years. If EVs compete head-to-head as a replacement for internal combustion engine cars, then there are far more constraints than accelerators to adoption. And the effect of the constraints – high cost, range anxiety, lack of choice, etc. – is much more intense. The replacement model argued for a traditionally gradual rise up the diffusion S-curve, perhaps reaching 70 to 80 per cent marketshare in 50 years. Read full article….

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