With gas headed toward $2/Litre, can an electric future really balance the scales?
On December 8, 2021, Adam Rozencwajg was one of the featured experts at the Driving into the Future virtual auto event (brought to you by TOYOTA) that discussed the topic: Rising Gas Prices vs Battery Costs.
With oil hovering in the $80 range, it seems inevitable that it will soon hit $100 a barrel. Some analysts say that $150 US, or even 200 bucks a barrel could be possible in the near future. In this video replay of the event, the featured panel of experts answer these questions:
What will that do to the price of gasoline?
How will such massive price increases affect the auto industry? And how will the 75 per cent of Canadians who bought a truck or SUV in the last few years react to $200 fill-ups?
Will that, as many economists have predicted, create a surge in demand for electric vehicles and their lower running costs?
Will stratospheric pump prices be the impetus for mainstream consumers to shop EVs? And what will any surge in demand do to EV pricing?
Will batteries continue to decline in price, or will the demand for the minerals essential to their construction see an increase in the cost of electrification?
Interested in the answers to these questions? We invite you to access the video replay of the discussion, available below.