Solar energy has now surpassed 100 GW globally.

Toyota Scion IQ Electric is rated by the US EPA at 99 MPGe.

Renault Fluence ZE electric car used by both Better Place and now Eldan Car Rental in Israel.

Burning Ice: methane hydrate is a form of frozen natural gas.

NEWS

TUE

12-Feb-2013

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Oil Prices Will Charge Up Electric Car Industry

Investment contrarian George Leong looks at the energy market and sees a promising future for not only electric cars, but for companies like AeroVironment that provide the technology for them.

With the outlook for the U.S. and global economies looking more encouraging, we have seen a corresponding upward push by oil prices on the chart.

An issue for us is that oil prices continue to be largely dictated by the folks in the Middle East, namely the 11-member oil cartel Organization of the Petroleum Exporting Companies (OPEC). At this time, OPEC feels oil prices of $100.00 a barrel are reasonable, and $80.00 is viewed as the low point that is acceptable for oil prices. This might be fine with OPEC, as it adds to their rich coffers; but with the average price of gasoline at $3.54 a gallon, consumers aren’t happy with these high oil prices. (Source: U.S. Energy Information Administration web site, last accessed February 8, 2013.)

But unless we see a massive flow of new oil from the controversial tar sands in Alberta, Canada, and a move back to offshore drilling in the post-BP era, oil prices will continue to be dictated by OPEC. I think it’s wrong to be held hostage by a group of oil-rich countries.

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