Big Oil just realized Electric Car demand is rising

❝ The world’s biggest oil producers are starting to take electric vehicles seriously as a long-term threat.

OPEC quintupled its forecast for sales of plug-in EVs, and oil producers from Exxon Mobil Corp. to BP Plc also revised up their outlooks in the past year, according to a study by Bloomberg New Energy Finance released on Friday. The London-based researcher expects those cars to reduce oil demand 8 million barrels by 2040, more than the current combined production of Iran and Iraq.

❝ Growing popularity of EVs increases the risk that oil demand will stagnate in the decades ahead, raising questions about the more than $700 billion a year that’s flowing into fossil-fuel industries. While the oil producers’ outlook isn’t nearly as aggressive as BNEF’s, the numbers indicate an acceleration in the number of EVs likely to be in the global fleet…

❝ BNEF expects electric cars to outsell gasoline and diesel models by 2040, reflecting a rapid decline in the cost of lithium-ion battery units that store power for the vehicles. It expects 530 million plug-in cars on the road by 2040, a third of worldwide total number of cars.

❝ Long-term growth depends on a wide range of factors, including policy decisions by governments seeking to tackle air pollution to the cost of the lithium-ion batteries that account for about a third of the cost of each one.

Yet even as oil majors lift their outlook, they remain much less optimistic than the automakers. The world’s top automakers have a combined plan to sell 6 million EVs a year by 2025, rising to 8 million in 2030, according to Bloomberg New Energy Finance.

2030 or 2040 might be doable for me. Looking forward to a greener more sensible world – and hopefully education and understanding keep up.

Truck full of hagfish rolls over releasing thousands of slimy sea creatures


Click for a close-up

❝ In a scene straight out of nightmares, a truck full of “slime eels” lost its load Thursday on U.S. 101, causing a five-car crash, dousing sedans with goo and sending sea creatures slithering across vehicles and the highway.

❝ Technically, the fish were not eels, but hagfish, which have a skull but no jaw or spine and they secrete slime when distressed, earning them the nickname “slime eels.”

And distressed they were, emitting gooey stuff that will make you shiver in your sandals — and that covered 101 along with the 7,500 pounds of fish.

Eeoouugh! Looks like a strategy meeting in the Trump White House.