“The only function of economic forecasting is to make astrology look respectable.” – John Kenneth Galbraith
“The unpleasant conclusion is that it is possible for a society to choose economic collapse.”– John Kenneth Galbraith
Will road development reduce Oil Consumption? It reduces vehicle maintenance cost and journey time. They gave rise to app base cars that surely offer comfort and convenience to passenger. Here are some articles to understand impact of Oil on app car economy in detail.
- Too low crude prices also not good for India: Cornell prof
- The Road To World War 3
- The “real” implications of oil price falling below $50 per barrel
- Short-term crude forecasts are, well, crude forecasts
- Despite recent fall, oil prices will touch $100 per barrel again
- Time to Wake Up: Days of Abundant Resources and Falling Prices Are Over Forever
- The Beginning of the End of the Fossil Fuel Revolution
When Saudi Arabia cut production, it ensured that crude oil prices continued to remain high and in turn, benefited other countries to sell their oil. Now they have decided to hold on to their market share, rather than cut production and sustain a higher crude oil price.
More production means there is a good chance that Saudi Arabia runs out of Oil resources and leads to increase in oil prices. Then, what ? If passenger stop using app based cars, there might be impact on the income of the car drivers.