A new report from a Stanford University lecturer predicts oil prices could collapse permanently as soon as four years from now, as electric cars and ride-hailing fleets bring a rapid end to the age of the personal combustible-engine vehicle.
The report points to a significant threat to Canada’s economy, dependent as it is on oil and auto manufacturing, but it also predicts “huge opportunities” for companies that jump into the new “transportation-as-a-service” industry.
“We are on the cusp of one of the fastest, deepest, most consequential disruptions of transportation in history,” begins the report from Tony Seba, a Silicon Valley entrepreneur and lecturer in entrepreneurship, disruption and clean energy at Stanford.
Read full story here: Oil Prices As Little As 4 Years From Collapse Amid Historic Shift In Transport: Report
