Why Oil will be Obsolete by 2030

Electric Vehicles (EV) are a ’disruptive’ technology. They are 5-10 times more energy efficient than internal combustion engine vehicles (ICEV), 5 to 10 times cheaper to maintain, and 5-10 times cheaper to ’fill up’. EVs are still expensive because the batteries are expensive. But as soon as the sticker price of EVs get anywhere close to ICEVs the mass migration from ICEV to EVs will begin. Following the cost curve of electricity storage (batteries) we can deduce that the mass migration from gasoline cars to electric cars will start around 2020. I expect the last commercial gasoline-powered car to be produced around 2030.