This is sobering and a reason why the revolution is a long ways off and a very carbon intensive path to get there especially with nuclear being ignored.
This is just electric cars, says nothing about solar panels and windmills and major grid improvements to facilitate the power.
This is exactly the inverse of the original oil discoveries. They were abundant and cheap and not in short supply which facilitated mass market penetration of the automobile.
The electric metal production suggests rapidly raising costs associated with electric vehicle adoption meaning many people will never afford one.
Oil has a lot of heavy lifting to do yet.
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According to Bloomberg, metals like nickel, aluminum, and iron are all expected to see demand increase by 13-14 times between 2019 and 2030. This increase in demand can be directly traced to the outlook for electric vehicles over the next ten years, with vehicle battery output expected to rise by tens of millions. Other metals important to the creation of electric car batteries, such as lithium and graphite, are also expected to rise substantially in demand by around 9-10 times by 2030.
This is just electric cars, says nothing about solar panels and windmills and major grid improvements to facilitate the power.
This is exactly the inverse of the original oil discoveries. They were abundant and cheap and not in short supply which facilitated mass market penetration of the automobile.
The electric metal production suggests rapidly raising costs associated with electric vehicle adoption meaning many people will never afford one.
Oil has a lot of heavy lifting to do yet.
----
According to Bloomberg, metals like nickel, aluminum, and iron are all expected to see demand increase by 13-14 times between 2019 and 2030. This increase in demand can be directly traced to the outlook for electric vehicles over the next ten years, with vehicle battery output expected to rise by tens of millions. Other metals important to the creation of electric car batteries, such as lithium and graphite, are also expected to rise substantially in demand by around 9-10 times by 2030.
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