The Peak Oil Myth and the Rise of the Electric Car
There are more than one billion cars on the road worldwide today, and only one tenth of one percent of them have a plug. OPEC contends that even in the year 2040, EVs will make up just one percent. But don't be so sure. By 2020, some electric cars and SUVs will be faster, safer, cheaper, and more convenient than their gasoline counterparts. What if people just stop buying oil? In the first episode of our animated series, Sooner Than You Think, Bloomberg's Tom Randall does the math on when oil markets might be headed for the big crash.
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Full Show: Bloomberg ‹GO› (07/21)
06:00 - Bloomberg ‹GO› hosted by David Westin, Jonathan Ferro, and Alix Steel. Guests include Vasileios Gkionakis, head of global FX strategy at UniCredit Bank, Gary Kelly, chairman and chief executive officer at Southwest Airlines, Vincent Reinhart, chief economist at Standish, -- Chuck Stevens, chief financial officer at General Motors, Alessio de Longis, portfolio manager at OppenheimerFunds, Nelson Peltz, chief executive officer and founding partner at Trian Fund Management, and Harold Hamm, chairman and chief executive officer at Continental Resources. (Source: Bloomberg)