Quote:
Originally Posted by Pominoz
Batteries don't create energy, they just store it, inefficiently. Wait and see what will happen to electricity costs, if we ditch petrol and run all the world vehicles on electricity.
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yes we know all about inefficiency via the internal combustion engine where nearly 70% of the energy that is paid for can not be used by the motorist. Every year trillions of dollars go right down the tubes that could have gone into the economy in ways that lifts demand for all sectors of the economy instead of just the few who do well when the oil markets spike.
As far as electricity costs, necessity is the mother of invention. When the free market senses a ramped up need for cheap electric power, those wishing to profit like a Bill Gates from filling that void waste no time in entering the race to deliver it. So the saying should be profit is the mother of invention.
In the end we may not end up saving any money at all vs. the current system of relying so heavily on a finite and inefficient commodity but we however will no longer be dependent on the wildly speculative demand of the oil markets that can erase a small business profit from unexpectedly high fuel costs in a matter of weeks. The oil market completely ignores falling oil consumption, excess supply one year and pays attention the next only to ignore it all over again. What business or household wants to continue depending on that kind of instability?
Volatility is great for hedge funds but households and small business not so much.
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