China, China, China

The yellow perils still in action:

Shai Agassi… spoke of the opportunities of electric cars. Referring to the car fleet he said that “Europe will work without oil in less than 10 years, between 2015 and 2020. It is inevitable. We won’t change due to global warming…but because oil will become too expensive”.

He went on to point out that “oil was 10 dollars a barrel at the beginning of the decade…it is almost 100 dollars a barrel now and if China doesn’t stop producing cars it will be 230 dollars a barrel in a few years”.

Turing to the emergence of China he said that it had already started to invest in electric cars. “Europe has two choices: to seize the opportunity to be the first to change, defending its role as first global car producer with 30% of the global market or to wait for China to overcome her in the market.”

I bet against it. STOA was once a European Parliament conference series for the scientific community but deteriorated ever since.

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