Bloomberg Predicts another OIL Crash with NO Recovery, Maybe

[G. David Felt]

G. David Felt
Staff Writer Alternative Energy - www.CheersandGears.com

 

Bloomberg Predicts another OIL Crash with NO Recovery, Maybe

 

Many of us are excited with the big drop in oil prices and finally gas prices retreating to below $2 a gallon in many places around the US. Some here on Cheers and Gears even feel that alternative energy auto's are a waste of time or should not even be bothered with.

 

So it was with interest when I saw this story on Bloombergs web site.

 

Another Oil Crash Is Coming, and There May Be No Recovery

The focus on this is that with Tesla in 2017 and Chevy later this year, 2016 beginning to sell 200 Mile, $30,000 auto's, other Auto OEMs spending Billions to also field electric auto's with long battery pack range that the days of Dino powered auto's are limited.

 

Bloomberg clearly states that OPEC and even ExxonMobil have reported that they only see EV auto's making up 1% at most by 2040 on the planet.

 

What no one saw was the Huge growth in US oil fields in 2014 and a global glut of 2 million barrels of oil a day sitting on the market.

 

Bloomberg reviewed world wide data to see that EV Auto's grew by 60% in 2015, show no signs of slowing down among governments push to reduce smog in cities around the world. Based on buying trends and who fast things can change, Bloomberg is predicting that by 2023 we will see another 2 million barrels of Oil being unused on the market leading to this prediction of another crash and the power of the Oil Companies being reduced.

 

The video they have on their story is also very interesting to watch and listen too.

 

Review the original story, watch the video and sound off on what you think of the OIL Industry and where we are headed with auto's!

 

Bloomberg Oil Crash Story

[Suaviloquent]

It's so interesting.

 

And it's pretty clear that we are at a flux point a la Doctor Who...

 

If the entire civilization has 100% electric vehicles and clean, renewable and affordable energy, we have the foundation of a Type I civilization.

 

And then onwards... explore the universe, conquer everything we see, kill anything that stands in our path, and become the very reapers we despise....

 

[balthazar]

Cheaper gas & oil? Hmmm, maybe have to find the additional funds to supercharge the B-59.

[ocnblu]

Exactly.  Low gas prices will only reinforce what I've been saying.  People will buy what they truly want when there are no artificial obstructions.  A pickup truck, big SUV or substantial, powerful car, without the rigid compromises of electrification, are just naturally more comfortable vehicles to ride in and drive.  And these stupid CAFE rules are completely counter intuitive to that.  If a few people want to drive an Ioniq or Volt, let them... but do not FORCE this ideology on people... it will not work!

[G. David Felt]

Suburban with a VOLT Powertrain would be great to reduce fuel consumption and still have a great road trip auto. I would love it.