
Renewable energy is good money, not just good for the earth - spenrose
https://www.ft.com/content/d94c35ac-aef9-11e9-b3e2-4fdf846f48f5
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spenrose
"for the same capital outlay, wind and solar projects will produce 3 to 4
times more useful energy at the wheels than oil will at $60 a barrel for
diesel-powered vehicles.

For petrol cars, the ratio is even less favourable — the renewable investment
will produce 6 to 7 times more energy. It is therefore increasingly difficult
to argue that oil is the superior fuel from an economic standpoint, let alone
when environmental issues are considered.

As electric vehicles proliferate, the long-term break-even oil price required
for gasoline to remain competitive as a source of mobility could fall as low
as $9 to $10 a barrel.

With nearly 40 per cent of current demand for oil coming from sources
susceptible to easy electrification, oil companies should think very carefully
about investing in new long-term projects that have break-even costs much
above $20 a barrel.

This poses a major strategic problem for the oil industry"

