PETROL AND DIESEL CAR WILL VANISH AFTER 8 YEARS

ACCORDING TO THE STUDY OF STANFORD UNIVERSITY DIESEL AND PETROL CARS WILL VANISH IN 8 YEARS

                                                        IMAGE TAKEN FROM GOOGLE

Stanford economist, Tony Seba, thinks that the global oil business will end as soon as 2030. In less than a decade consumers will find it difficult to search for petrol pumps, spares and even mechanics who have the knowledge of internal combustion engines

There has been a lot of talk about fossil fuels going extinct and though there are companies like Shell who have demonstrated that the true potential of fuel based cars remains untapped, there's no denying that electric cars are going to have a significant impact on the way the transportation business will function.

A Stanford economist, Tony Seba, thinks that the global oil business will end as soon as 2030. In a study released recently, Tony talks about the revolutionary changes soon to be wrought by electrification of the transportation. The study published by Stanford University says that fossil-fueled cars will vanish within eight years and the people who want to buy cars will have no choice but to invest in electric vehicles or vehicles working on similar technologies. Tony says that this is because the cost of the electric vehicles; which includes cars, buses and even trucks will decrease and this will result in the collapse of the petroleum industry.

Electric cars is the future

Titled 'Rethinking Transportation 2020-2030', the study details how people will ultimately switch to autonomous electric vehicles, as they will eventually be ten times cheaper to maintain than cars that run on fossil fuels and have a near-zero marginal cost of fuel. He goes on to mention that electric vehicles will have a life span of 1 million (16,09,344 km) miles and in comparison, fossil fuel based cars have a lifespan of just about 2 lake miles (3,21,000 km approximately)

He goes on to suggest that in less than a decade consumers will find it difficult to search for petrol pumps, spares and even mechanics who have the knowledge of internal combustion engines. Finally, he says that modern-day car dealerships will disappear by 2024 as the long-term price of oil falls to $25 USD a barrel. He even says that there will be a 'mass stranding' of existing vehicles.