An economist is telling everyone to sell their BP shares in a roundabout way, by warning that the switch to electric cars could be so swift that current petrol and diesel models could all be on the scrap heap within eight years.
Driving a petrol or diesel model will be soon saved for enthusiasts only, says professor Tony Seba, who thinks that once electric cars are cheaper and can drive themselves, the fossil fuel industry and all it powers will collapse in no time.
Seba said: "We are on the cusp of one of the fastest, deepest, most consequential disruptions of transportation in history," with his analysis of cost curves saying internal combustion engines will rocket in price once electric takes over, plus there's a chance people in urban areas will entirely give up on the idea of car ownership altogether, what with self-driving options becoming the norm in towns.
In Seba's fantasy sci-fi world this might all happen by 2025, with the "mass stranding of existing vehicles" seeing petrol and diesel things dumped en masse. So there. [The Sun]
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