summary of some highlights:
- over 90% of crude oil goes to transportation
- diesel and gasoline are the large majority of demand
- electric vehicles are reducing demand for oil
- electric vehicles are viable and economic for buses and heavy haul trucks
- however battery production is a major bottleneck, priorizing higher margin cars over battery powered trucks and buses
- synthetic fuel (electricity plus atmosphere turned into gasoline, diesel or jet fuel) is viable at ~$12/MWh when oil is $60/barrel.
- cost curve of renewable electricity suggests that synthetic fuel may be economically viable in a few years
- all this has serious long term implications for the oil industry
