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Economics of Electric Vehicles Mean Oil’s Days As A Transport Fuel Are Numbered
September 2, 2019 /
The long-term break-even oil price for gasoline to remain competitive as a source of mobility is $9 – $10 per barrel, and for diesel $17 – $19 a barrel
The new research, from BNP Paribas, says that the economics of renewable energy make it impossible for oil to compete at current prices. The author of the report, global head of sustainability Mark Lewis, says that “renewable electricity has a short-run marginal cost of zero, is cleaner environmentally, much easier to transport and could readily replace up to 40% of global oil demand”.
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Posted in: Transportation, Energy and Climate Change
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