Just a random musing. As EV’s become more popular, means less gas being used, means potentially lower prices since supply of gas should increase? Or do they just cut production and keep prices the same.
Wondering what will happen in the long term.
Just a random musing. As EV’s become more popular, means less gas being used, means potentially lower prices since supply of gas should increase? Or do they just cut production and keep prices the same.
Wondering what will happen in the long term.
It will not decrease that much. Also doesn’t go up that much because the shale oil in the US will ramp up production.
If the price decrease, at some point it will, the Middle East is the place that cost the least to produce oil, so everyone goes out of business except them. Prices will be around 50 to 100 dollars for some time.
The bigger advantage would be politic, Middle East and other oil producers can influence US politics because US consumers buy gasoline, it’s one of the few commodities that people buy directly and are very sensitive to price volatility. If people switch to EV will care less about the price, the same way no one knows the price of the lithium today or yesterday.