Oil soars 6 percent as OPEC reaches deal to limit output in November

Re:Oil soars 6 percent as OPEC reaches deal to limit output ... by philipkglass on Wednesday September 28, 2016 @04:53PM (#12601285)

I'd say say that transport electrification is going to be more directly responsible for reducing oil demand. It's very important to the climate that electric vehicles get charged with low-emissions sources, but the petrostates are equally in trouble whether people are driving EVs charged with wind power or coal power.

It's hard to tell when electrification is going to kick into high gear. Projections for numbers of EVs sold ten years from now vary widely. I'll say that if oil did go back over $100/barrel that would provide an incredible tail wind for PHEV and BEV adoption in the US. Cars last 20+ years but buyers are oddly sensitive to recent pump prices.

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Re:Oil soars 6 percent as OPEC reaches deal to limit output ... by sokoloff on Wednesday September 28, 2016 @05:30PM (#12601532)

I don't expect my 2015 LEAF to be on the road in 2035. The current generation of battery electrics do not have 20 year battery packs, and I don't know that it will be worthwhile to re-battery the car twice to get to the 20 year mark with good range and the way the battery tech is improving. (I'd probably rather buy a new BEV 8 years from now, even though I'm normally the guy who buys a 6-10 year old car and drives it 6-10 years.)

I do agree that people all but throwing away large SUVs when gas hit the mid $4 range was mystifying to me. I work with and hang around generally smart people and I saw people trading in 2-3 year old cars for brand-new fuel efficient cars.

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