Sign Up for FREE Daily Energy News
Canadian Flag CDN NEWS  |  US Flag US NEWS  | TIMELY. FOCUSED. RELEVANT. FREE
  • Stay Connected
  • linkedin
  • twitter
  • facebook
  • youtube2
BREAKING NEWS:

Vista Projects
Copper Tip Energy Services
Hazloc Heaters
Copper Tip Energy
Hazloc Heaters
Vista Projects


How Disruptable Are Oil Products? – ENERGYminute


English Español 简体中文 हिन्दी Português
These translations are done via Google Translate

Products derived from a single barrel of oil

 

Courtesy of Visual Capitalist

GLJ
GLJ

To think about how disrupted oil markets could be in the future, it’s helpful to think about oil’s different end products and the state of the technologies which could replace them.

The electric car is an example of a mature technology. With electric cars making up a greater percentage of new cars being sold, gasoline—the most widely-used petroleum product—is the furthest along its path to being substituted. But it’s a slow process.

  • Last year, only 4.6 percent of new cars sold were electric. Even as that percentage continues to grow, cars often stay on the road for a decade or more, suggesting the transition away from gasoline will take many decades.

After gasoline, very few petroleum products have large-scale, commercial substitutes.



Share This:



More News Articles


GET ENERGYNOW’S DAILY EMAIL FOR FREE