[antz.bin]

Originally Posted by deetjohn

Here is a very good video by Bloomberg on how EVs can cause the next oil crisis.

This video is 3 months old. Tesla Model 3 was launched 1 month back and going by some of the stats in the video, the 2023 estimate is much closer now given the humongous no. of pre-orders secured by the Model 3.

If each of the Model 3s reduce the demand of oil by just 10 barrels/year (instead of 15 in the video), still, that is 4 million barrels of reduced oil demand, twice the no. it needed to trigger the oil price meltdown of 2014. And that is just the Model 3.

Tesla is selling 50k Model S & Model X last year, that is a number they double every year. BYD sold 60k E6 EVs last year. That's 1.1 million barrels of oil requirement reduction last year.

Nissan reached 200,000 Nissan Leaf sales in December 2015 and increased the range of the 2016 model by 20%. BMW increased i3 range by a whooping 50% and even gave the existing 42k+ owners the option to upgrade the battery pack since it fits in the exact same space as the older battery !

The sales no. of the competition will only increase by the time Tesla delivers each and every one of the pre-ordered Model 3. By conservative estimates, this should happen by the end of 2020. If sales growth trends continue as they are, the world should have at least 1.5 Million Pure EVs on the road by then.

And all this time, we haven't even considered the effect that the existing and upcoming PHEVs and other upcoming pure EVs in the personal and commercial sectors will cause.

If Bloomberg expects a reduction of 2Million barrels in oil demand to create a oil crisis, given the sales no. of the most popular current and upcoming EVs, by 2020(3 years before Bloomberg's estimates), it will not be a crisis, it will be a catastrophe.

[reverse_gear]

Originally Posted by antz.bin

If Bloomberg expects a reduction of 2Million barrels in oil demand to create a oil crisis, given the sales no. of the most popular current and upcoming EVs, by 2020(3 years before Bloomberg's estimates), it will not be a crisis, it will be a catastrophe.

Whoa, whoa! Hang on, Sir. Bloomberg video talks about 2 million barrels/DAY. You are calculating on the basis of per YEAR gasoline consumption.

[manduvindupondu]

Wonder whether the Government will stick to the current HIGH tax rates when crude goes to $80? Then Petrol will be 120 INR. Mera Bharat Mahan.

[humyum]

Originally Posted by manduvindupondu

Wonder whether the Government will stick to the current HIGH tax rates when crude goes to $80? Then Petrol will be 120 INR. Mera Bharat Mahan.

I don't think so that will happen because Diesel is what transportation runs in this country. IF Diesel touches Rs 100, prices of goods will rise like its tail is on fire. The government will collapse in a day.

[GTO]

Mod Note: Please don't go off-topic with EVs & fuel-cell vehicles. We have other threads to discuss the same. Thanks!

[shahbaz.k]

Petrol and diesel price increased by Rs. 0.83/litre & Rs. 1.26/litre respectively with effect from midnight tonight

[mohammedismail]

Petrol price increased by 0.83p and diesel by 1.26

[VRPAI]

Originally Posted by mohammedismail

Petrol price increased by 0.83p and diesel by 1.26

Argh!
Why does the diesel price increase more than the petrol !. Because of the last government's theory of increasing petrol pricing more than the diesel, I finally bought a Diesel car and now this government has another mind on pricing the fuels!.

On an another note, has the crude prices been increasing substantially or have the rupee fallen? .What's the reason for the last two hikes :what:

[vinitbhavi]

Originally Posted by VRPAI

Argh!
Why does the diesel price increase more than the petrol !. Because of the last government's theory of increasing petrol pricing more than the diesel, I finally bought a Diesel car and now this government has another mind on pricing the fuels!.

On an another note, has the crude prices been increasing substantially or have the rupee fallen? .What's the reason for the last two hikes :what:

That's exactly what I've been thinking. My diesel is just a week old and prices have increased for the second time this month.
This is what ndtv is saying

Petrol Price Hiked By 83 Paise/Litre, Diesel By Rs 1.26/Litre : http://profit.ndtv.com/news/economy/...-litre-1406195

Basically the increase is a combination of both factors you have listed above.

[AutoNoob]

Originally Posted by shahbaz.k

Petrol and diesel price increased by Rs. 0.83/litre & Rs. 1.26/litre respectively with effect from midnight tonight

Originally Posted by VRPAI

On an another note, has the crude prices been increasing substantially or have the rupee fallen? .What's the reason for the last two hikes

Originally Posted by vinitbhavi

prices have increased for the second time this month.

I wonder when the roll back for the enhanced excise duty might start ?? After Petrol touches Rs. 70/l & Diesel touches Rs. 60/l ??

[mohammedismail]

Originally Posted by AutoNoob

I wonder when the roll back for the enhanced excise duty might start ?? After Petrol touches Rs. 70/l & Diesel touches Rs. 60/l ??

Hahaha we wish! That's definitely not going to happen. I'm pretty sure it is a scam by the Govt!

[sandeepmohan]

Bordering on Rs. 10 increase in petrol in just two months.

[ptaneja]

guys, any insight on price revision for today - 31st May ? I have to get the tank filled up - should I wait for tomorrow or get it done and over with it today ?!

[bullrun87]

Originally Posted by ptaneja

guys, any insight on price revision for today - 31st May ? I have to get the tank filled up - should I wait for tomorrow or get it done and over with it today ?!

Crude oil price is slightly higher than what it was a fortnight ago so we might be looking at another increase in prices. Oil price forecasts are getting more bullish and we might be looking at reaching 60 dollars a barrel by the end of 2016.

[hondacity]

Better tank up. When fuel rises the excise duty won't be cut anyways.