Oil price collapse

[slootman]

I don't think the mainstream transition to electric vehicles and vehicle sharing will come as quick as the author expects. Not even close. If electric vehicles become more popular, gas will just be offered cheaper. I expect it will be decades before a significant shift from gas vehicles will take place.

And yes, there are so many other uses for oil that automobiles alone won't be a huge impact. It takes a bunch of oil just to build an electric vehicle. Plus all the other stuff people use that comes from oil...thinking that ditching gas vehicles will be the end of oil production is pretty naive.

[Jflem1983]

I don't think the mainstream transition to electric vehicles and vehicle sharing will come as quick as the author expects. Not even close. If electric vehicles become more popular, gas will just be offered cheaper. I expect it will be decades before a significant shift from gas vehicles will take place.

And yes, there are so many other uses for oil that automobiles alone won't be a huge impact. It takes a bunch of oil just to build an electric vehicle. Plus all the other stuff people use that comes from oil...thinking that ditching gas vehicles will be the end of oil production is pretty naive.

Bingo .

[GordonH]

And yes, there are so many other uses for oil that automobiles alone won't be a huge impact. It takes a bunch of oil just to build an electric vehicle. Plus all the other stuff people use that comes from oil...thinking that ditching gas vehicles will be the end of oil production is pretty naive.

In production of raw oil there 2 items at the end, 1 is unusable thats is the sludge the other is gasoline.
All the other item come off in process i.e grease, plastics, resin, diesel etc.... etc

[Dizzy1]

now but facts are oil is going to run out . you havent firgured that out yet .

Funny how we just seem to keep finding more - and one reserve is bigger than the last

[vegas1500]

MJ you and probably everyone on this forum will be long gone before the worlds demand for oil ceases. Go up to fort Mac sometime, you will love the smell of money....I mean oil.....

[The Green Barbarian]

MJ you and probably everyone on this forum will be long gone before the worlds demand for oil ceases. Go up to fort Mac sometime, you will love the smell of money....I mean oil.....

Just don't go up there with Jane Fonda, David Suzuki, Neil Young or James Cameron, as the smell of bull will be too strong to smell the money.

[bob vernon]

The smell of money at Fort Mac? The cost per barrel from the Oil/Tar Sands is about $50 for the early plants like Syncrude. So they are just breaking even, some of the time. The more recent plants are as much as $65 to $70 dollars per barrel. Shell recently threw in the towel and sold their holdings for peanuts to Canadian Natural Resources. Any smell of money up there is from the money bleeding from these corporations. Conventional oil is making money in Alberta, but the Sands isn't right now.

The price will have to rise for a return to profitability. Any sign of $65 or $70 a barrel anytime soon?

[Smurf]

Being the devils advocate if prices stay low or fall and it kills Alberta oil it's a shame because they have supported Canada for decades and there is nothing coming up to replace it. If the leftists are right and wind and solar are free that means no income for our governments only huge expenses for all the subsidies they pay for these alternative sources because as is proven in California and elsewhere that is the only way they work. Canada will be in serious trouble if those times come too fast.