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posted by martyb on Wednesday September 04 2019, @05:23PM   Printer-friendly
from the instead-of-batteries-just-use-a-very-long-extension-cord dept.

Forbes:

The future is not looking bright for oil, according to a new report that claims the commodity would have to be priced at $10-$20 a barrel to remain competitive as a transport fuel.

The new research, from BNP Paribas, says that the economics of renewable energy make it impossible for oil to compete at current prices. The author of the report, global head of sustainability Mark Lewis, says that "renewable electricity has a short-run marginal cost of zero, is cleaner environmentally, much easier to transport and could readily replace up to 40% of global oil demand".

[...] The report, Wells, Wires, And Wheels... Eroci And The Tough Road Ahead For Oil, introduces the concept of the Energy Return on Capital Invested (EROCI), focusing on the energy return on a $100bn outlay on oil and renewables where the energy is being used to power cars and other light-duty vehicles (LDVs).

"For a given capital outlay on oil and renewables, how much useful energy at the wheel do we get? Our analysis indicates that for the same capital outlay today, new wind and solar-energy projects in tandem with battery electric vehicles will produce six to seven times more useful energy at the wheels than will oil at $60 per barrel for gasoline powered light-duty vehicles, and three to four times more than will oil at $60 per barrel for light-duty vehicles running on diesel," says Lewis.

As fossil fuels phase out, will battery technology improve quickly enough to support the transition to renewables?


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  • (Score: 1) by fustakrakich on Wednesday September 04 2019, @05:38PM (2 children)

    by fustakrakich (6150) on Wednesday September 04 2019, @05:38PM (#889605) Journal

    New Zealand and Liberia

    They have to run both hot and cold

    It matters not if new or old

    I heard they pronounce it "battries" in Indiana. Is that true?

    --
    La politica e i criminali sono la stessa cosa..
  • (Score: 2) by DannyB on Wednesday September 04 2019, @06:17PM (1 child)

    by DannyB (5839) Subscriber Badge on Wednesday September 04 2019, @06:17PM (#889616) Journal

    I heard they pronounce it "battries" in Indiana. Is that true?

    It must be true somewhere. I have heard "bat-trees" since child hoodness.

    Also:
    * Anyways -- with the S on the end (cringe)
    * Warsh (as opposed to "wash". A Car Warsh, or a Dish Warsher)
    * Wrench (instead of "rinse")
    * the spelling of B R A I N S pronounced as bananas. But then, for some people, maybe there's something to this.
    * There is no letter X in Escape like there is in Excuse

    Bat-Trees (instead of batteries) is said by Leslie Nielsen in 1956 movie Forbidden Planet. "Bat-Trees, open fire!"

    Protip: never utilize the word "utilize" when you could utilize the word "use" instead. And only an idiot would begin or end a sentence with the word And. But you would have to be a complete fool to begin or end a sentence with But.

    --
    People today are educated enough to repeat what they are taught but not to question what they are taught.
    • (Score: 0) by Anonymous Coward on Thursday September 05 2019, @01:31AM

      by Anonymous Coward on Thursday September 05 2019, @01:31AM (#889781)

      how about the UK?
      ever hear of a "bat-tree hen"