Oil will lose grip on global vehicle market in less than 25 years
With oil peaking a over a decade ago, it’s no surprise as word gets out about how the big oil companies won’t be able to sustain the transportation industry much longer. The US on average, consumes nearly 20 million barrels per day, that over 7 billion barrels per year. All this oil won’t last forever, in fact, much of the worlds oil supply will be depleted by 2050. Oil is essential for automobile transportation thanks to the internal combustion engine. There has been efforts in recent years to maximize the fuel economy of newer production vehicles but with the ever increasing amount of cars on the road, the amount of vehicle emissions continues to rise.
Finding an alternative goal is paramount to the success of the global economy. There is a push by most of Europe to ban gasoline engines by 2040. With over a billion estimated vehicles in the world, the push to switch over to sustainable energy is going to be that much more difficult. In recent years, many automakers have rolled out all electric cars, but the problem is that even tires on cars are made with petroleum products. So is the end of the vehicle inevitable? Well not necessarily, if we can cut our consumption on oil significantly then we can have more time to prepare a global transportation platform that will sustain future generations to come. Probably in your life time, you will see the last internal combustion engine produced which will be quite sad as we all have grown to a life so accustomed to the automobile.