Big Utility Sees Pathway to $10 Oil (Due to pressure from low-cost solar)

[OKIsItJustMe]

https://www.bloomberg.com/news/articles/2016-12-20/energy-tsunamis-threaten-to-drag-oil-down-to-10-engie-says

[font face=Serif][font size=5]Big Utility Sees Pathway to $10 Oil[/font]

by Francois De Beaupuy
December 20, 2016, 6:35 AM EST

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• Lower cost for solar, hydrogen and batteries to weigh on crude


• Innovation chief Lepercq sees ‘quasi-infinite and free energy’

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[font size=3]The oil industry must brace for five energy “tsunamis” that threaten to drag prices as low as $10 a barrel in less than a decade, according to Engie SA’s innovation chief.

The falling cost of solar power and battery storage, rising sales of electric vehicles, increasingly “smart” buildings and cheap hydrogen will all weigh on crude, Thierry Lepercq, head of research, technology and innovation at the French energy company, said in an interview.

“Even if oil demand continues to climb until 2025, its price could drop to $10 if markets anticipate a significant fall in demand,” Lepercq said at his office near Paris. Crude last slumped to that level in 1998.

“Solar, battery storage, electrical and hydrogen vehicles, and connected devices are in a ‘J’ curve,” he said. “Hydrogen is the missing link in a 100 percent renewable-energy system, but technological bricks already exist.”

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[Best_man23]

1. We won't have Solar under tRump

They will make it illegal in the US to have a solar panel, you will be compelled to use oil (and like it).

Japan and many Middle East countries are building solar capacity like crazy.

[OKIsItJustMe]

2. Trump can't stop solar at this point

It was easy for Reagan, because there weren’t a lot of companies making and installing solar panels.