What's Next for Oil
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There is allot of talk that world should be carbon-free by 2030. The problem is that carbon plays a vital role in everyday life of people as such replacing oil-based products will take time.
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What's Next for Oil
- 1. What’s Next For Oil Paul Young CPA, CGA November 5, 2018
- 2. Paul Young - Bio • CPA, CGA • Financial Solutions • SME – Business Process Changes • SME – Risk Management • SME – Close, Consolidate and Reporting • SME – Public Policy • SME – Financial Solutions • SME – Supply Chain Management • Academia – Advance Accounting, Public Finance and Advanced Management Systems Contact information: Paul_Young_CGA@Hotmail.com
- 3. Agenda Monthly Oil Production by Key Countries Oil Application Automotive Market – World Wide Automotive Market – World Wide – Electrical Vehicles What are the risks to Electrical Vehicles Electrical Grid Will oil disappear
- 4. Introduction
- 5. Monthly Oil Production by Key Countries Source - https://knoema.com/atlas/topics/Energy/Oil/Production-of-crude-oil
- 6. Oil Applications / Refining Source - https://www.eia.gov/energyexplain ed/index.php?page=oil_refining
- 7. Automotive World Market Source – Scotiabank - https://www.scotiabank.com/content/da m/scotiabank/sub-brands/scotiabank- economics/english/documents/global- auto-report/GAR_2018-10-23.pdf
- 8. Electrical Car Market Source - https://insideevs.com/half-worlds-electric-cars-in-just-25-cities/ According to the International Council on Clean Transportation (ICCT), nearly half of all plug-in electric passenger cars are used in just 25 metropolitan areas. At the end of 2017, the number was 1.4 million out of 3.1 million, which translated to around 45% in those 25 cities. That’s pretty interesting, especially since overall, those 25 markets represent only 12% of the world’s passenger car sales. In other words, there are important reasons that make plug-ins appealing in certain metro areas.
- 9. Risks to Electrical vehicles Access to raw materials – Lithium, Vanadium, Cobalt and Rare Metals - https://www.spglobal.com/en/research- insights/articles/cobalt-key-to-electric-vehicles-but- automakers-hushed-on-risks The ability of the grid to handle plug-in stations - https://www.forbes.com/sites/peterdetwiler/2013/01/28/el ectric-cars-and-the-power-grid-how-are-they-coming- together/#648168b31976 Access to plug-in stations Ability of batteries to handle adverse weather conditions
- 10. World Electrical Grid OECD countries in general are producing electricity using combustible fuels, i.e. Coal and Natural Gas Canada produces over 80% of their power from renewable sources
- 11. Future of Oil Source - http://www.petroleum.co.uk/the-future-of-petroleum
- 12. Summary Oil is not go away anytime soon as hydrocarbons and gasoline play a significant role in everyday lives of people China continues to build coal-fired plants. Catherine McKenna keeps pushing for end to coal, but that will not happen anytime soon - https://www.chinadialogue.net/blog/10761-China-is- building-coal-power-again/en Electrical cars need to be both cost-competitive and reliable Pro-climate change people need to stop blaming the whole world’s bad pollution laws on CO2 - https://www.slideshare.net/paulyoungcga/blaming- weather-related-issues-on-climate-change