Believe it or not! Petrol could be below Rs 30 a litre in 5 years

[ashok321]

• Opec extends crude oil output cuts by 9 months

 

[baajey]

Genuine Question ... Can someone explain why do i have to pay 76rs for a litter in Bangalore when Oil prices are all time low in the international market???

Maybe the govt is saving them for a rainy day.

 

[Arsalan]

In few words, its Lithium, wind power, Solar and nuclear power.
Crude oil will be on a back burner.

4 against 1.
Cant win.

Well you mentioned boom in solar so i made that post. If his prediction was boom in solar then i am not sure if he have been proven right already with Solar contributing 1.1% of world's electricity.
As for the other two, nuclear is excellent but have been labeled as very lethal and dangerous (Fukushima accident and the Japanese reaction to the disaster is a prime example). However i do feel that it will keep on growing bar some countries who are either super rich to afford other means or have cheaper other means to produce electricity.
Wind will soar.
Lithium provides means to store, not produce electricity.

 

[ashok321]

Well you mentioned boom in solar so i made that post. If his prediction was boom in solar then i am not sure if he have been proven right already with Solar contributing 1.1% of world's electricity.
As for the other two, nuclear is excellent but have been labeled as very lethal and dangerous (Fukushima accident and the Japanese reaction to the disaster is a prime example). However i do feel that it will keep on growing bar some countries who are either super rich to afford other means or have cheaper other means to produce electricity.
Wind will soar.
Lithium provides means to store, not produce electricity.

Batteries are classified as power source, so are the fuel cells - source of power.

 

[rott]

I believe it! At the same time all gasoline and diesel vehicles will be banned from the roads. That's when it will get cheaper.

 

[Arsalan]

Batteries are classified as power source, so are the fuel cells - source of power.

Not "producers" or "generators"
What about the other three that i mentioned?

 

[MULUBJA]

When was petrol Rs 58.37 in Manmohan Era?

 

[ashok321]

Not "producers" or "generators"
What about the other three that i mentioned?

If it is a power source means it produces power.
One that produces is a producer.

 

[MULUBJA]

As per one US university survey, in next 8 years, most of the vehicles shall be running on battery and fuel cells. Petroleum demand shall go down like anything and there shall be very few people who would need petrol.

 

[ashok321]

When was petrol Rs 58.37 in Manmohan Era?

There is a government source.
Check from there.
Don't be a frivolous dude with flippant comments.

 

[MULUBJA]

There is a government source.
Check from there.
Don't be a frivolous dude with flippant comments.

Which government source. The picture you posted is a government source?

 

[Arsalan]

If it is a power source means it produces power.
One that produces is a producer.

O bahi!!
Are you saying that Lithium Batteries are power producers?

 

[ashok321]

O bahi!!
Are you saying that Lithium Batteries are power producers?

I never said (specifically) lithium.
Batteries in general.

 

[Alternative]

In few words, its Lithium, wind power, Solar and nuclear power.
Crude oil will be on a back burner.

4 against 1.
Cant win.

Your understanding is not correct.

Products of Crude, petrol or diesel etc., are most efficient carriers of energy till now on every account, by weight or volume, energy density etc. So we find crude product carried and used in Airplanes, Rockets, Vehicles, Ships, cooking stoves etc. etc. every where, that is.

Wind power, Solar and nuclear etc. are modes of generating electricity; not carrier of energy, which in case of electricity is Cells, batteries which are vastly inefficient as compared with Crude.

Unless, until such technology is developed that allow quick, efficient and high quantity electric energy storage (something akin to science fiction movies), humanity will remain dependent on fossil fuel.

Challenge is not in production of electricity but quick, efficient and high quantity electricity storage.

 

[ashok321]

Your understanding is not correct.

Products of Crude, petrol or diesel etc., are most efficient carriers of energy till now on every account, by weight or volume, energy density etc. So we find crude product carried and used in Airplanes, Rockets, Vehicles, Ships, cooking stoves etc. etc. every where, that is.

Wind power, Solar and nuclear etc. are modes of generating electricity; not carrier of energy, which in case of electricity is Cells, batteries which are vastly inefficient as compared with Crude.

Unless, until such technology is developed that allow quick, efficient and high quantity electric energy storage (something akin to science fiction movies), humanity will remain dependent on fossil fuel.

Challenge is not in production of electricity but quick, efficient and high quantity electricity storage.

Renewable energy is not as viable as crude oil.

But what is crude oil up to when it can not compete or has lesser demand?
The scenario is grim for crude oil ahead.
Take any future analysis of Credit Suisse and Merrill Lynch.