You might not have been shocked about what Wikileaks learned about Saudi oil levels, as it was obvious that they had been overstating the figures for some time. Business Insider said that there was no need to learn this from the controversial website, but this latest high-profile news is worrying, and makes us wonder what effects it will have on the auto industry?
This first thing to remember is that there is no need to panic just yet, but there will come a time when we would have drained our oil resources — we just hope that we are ready for change? For years this black gold has had a strangle hold over us, but we have seen a few changes in the auto industry over the years, but we are nowhere near where we need to be.
If you take a look at the market today there are a number of alternatives, such as hybrids, hybrid plug-in, electric vehicles, hydrogen and more. Most of you will already be familiar with the Toyota Prius; this uses a standard combustion engine and an electric motor. For years this has been the best selling hybrid, but the issue here is that it still uses gasoline.
Then we have the Chevy Volt, again this also uses gasoline, this vehicle is just a means to an end. Then there is the Nissan Leaf, this is an EV, and although it is a better alternative fuel wise, the limited range is a huge issue.
So we know that the auto industry is trying, but the technology is just not there yet. We do not know how long the oil will last, but if it were to happen soon then we will not be ready for it. Autoblog has an interesting twist on this, saying that maybe the Mayan calendar is on about change, and that change could be about what fuel drives our vehicles. Just remember one thing, oil is sued for far more things that oil.
Do you think that we are ready if the oil runs dry?
*Identifying Monetised Links - outgoing links that we monetise are marked with an '*' symbol.