| Hybrid and Electric Cars: The Right Time to Consider One For Your Family |
| Articles - Lifestyle |
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Trends are transient, constantly being replaced by new trends. Arguably more electric cars existed at the turn of the 20th Century than petrol-powered ones. As it turns out, the oil booms in the 1920s led to a mass adoption of the internal combustion engine, and by the 1990s, no car maker dared more than to just dabble, without considering mass production. But times have changed.
Trends are transient, constantly being replaced by new trends. Arguably more electric cars existed at the turn of the 20th Century than petrol-powered ones. As it turns out, the oil booms in the 1920s led to a mass adoption of the internal combustion engine, and by the 1990s, no car maker dared more than to just dabble, without considering mass production. But times have changed. From 1980s to 2003, the oil price was low, with good flows coming from all oil-producing nations. Beginning in 2004, however, speculations in this commodity and increasing political instability caused the price of oil to rise dramatically, peaking at a previously unimaginable figure of 147 dollars per barrel. It was only due to the global economic crisis of the late 2000s, that the drop in demands managed to ease the price down to the 35-dollar level by 2009. But less than a year later, the price surge is back. With a vengeance. The oil industry is very evasive when it comes to the question of how much fuel is there in the ground. While it is impossible to accurately calculate how much fossil fuel can still be extracted from out of the ground, there are always clear signs to signify the level of worldwide availability. Companies (and countries) will go to great lengths to protect supplies, as witnessed in the 2010 Deepwater Horizon Spill. In fact in the same year, the International Energy Agency reported that based on a 4-year observation, that we reached Peak Oil in 2006. Given that the majority of our fuel source has been in decline since 2006, it is an official confirmation that cheap oil is gone for good. As of March 3rd, 2011, the addition of the Arab world uprisings had pushed the oil price up to 102 dollars a barrel. While nothing goes up for ever in the markets, it's almost certain that we will never see the price drop to 35 dollars a barrel ever again...unless demand for oil stops suddenly. Some will point out to the existence of unconventional oil, such as the tar sands of Canada and the oil shale of USA, hoping that they will mitigate the burdens of a declining crude. These should be interpreted as unrealistic thinking, given that they are so much more energy exhausting to produce, they are too economical infeasible to replace the proportion of total oil production that the conventional oil is currently holding. However, if the price rises substantially, these sources become profitable, and may provide increasing volumes of our requirements. What's the impact on consumers? Seeing as every major motor manufacture on earth including some prestige manufacturers such as BMW, have all announced their line-up of electric and plug-in hybrid vehicles due to by released this decade. So if you are ever looking to purchase a new car, the rational thing will be to aim for one that will use as little fuel as possible, or if better, none at all. And that applies to anyone looking for a used car as well. DISCLAIMER: This article is provided as information only and is not to be taken as financial advice. If you're looking for an electric car for sale you'll also need vehicle insurance because electric cars can be expensive to repair. |