New research says battery adoption is far outstripping predictions and models. Growth is exponential and on an s-curve, and will half global oil demand.
New research says battery adoption is far outstripping predictions and models. Growth is exponential and on an s-curve, and will half global oil demand.
The unstoppable rise of batteries is leading to a domino effect that puts half of global fossil fuel demand at risk.
There are vast vested interests in keeping the fossil fuel industry afloat. It supports entire countries like Russia and Saudi Arabia. Not to mention the stock portfolios and wealth it gives to many among the richest and most powerful elsewhere.
I expect anti-battery disinformation will increase as panic sets in from those with a lot to lose.
It's in full swing. COP23 was about how oil can fuel the energy transition for example. Oil and gas companies are putting a ton of money into "it's not that bad" research, discrediting the reliability of renewables like "sun doesn't shine at night" and so on. TikTok even had a gas cooking trend because they can't compete with induction.
Not to mention that lobbying is still going hard for subsidies just to stay competitive. Media is screaming every time there's a battery fire but when someone a company is scaling up a redux-flow battery it's not newsworthy.
However, batteries + solar is getting waaay cheaper and you can't compete with cheaper.
Good. I will gladly have all my oil stocks go to zero if it means we can reduce our dependence on it significantly across the globe.
It won't make a difference.
Battery deployments have already turned a profit on their original cost for stationary storage. There are enough clever businessmen out there that can now see the proof of this that the stationary storage market will explode. While I can see consumers not buying cars when they should because of disinformation the growth and improvement in batteries will continue without that. At some point they will change when it becomes a lot better than ICE.
But the consumer car market is a fuckup anyway because we should be working on getting cars off the road and funding public transport.
I think disinformation is unfortunately a grey area these days. There are a lot of downsides to some of the green tech but anyone who brings it up is immediately called out as being somehow bribed by a oil company.
Iirc all these gulf economies which are reliant on oil are already massive investors in renewables too. They are also diversifying into tourism too with Saudi Arabia set to host 2034 WC and qatar hosting the latest one.
When are the battery opens going to get a cut.
I don't doubt for a second that we the people paying will get a discount