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Presentation/PPT
27/08/2022
An evaluation of the potential impact of the electric car on the domestic fuel market in the United States in the next 10 years In recent years there has been much talk on alternative energy sources primarily and obstentiously to combat man-made climate change but also to give consumer nations more energy security in terms of supply and price. One of the biggest uses of fossil fuel is transportation. A leading and obvious transportation is road vehicles and their use of combustion engine and subsequent use of distilled crude oil. There has been much research and intellectual discussion on the alternative fuel for road transport including hydrogen, LPG and electric vehicles. In recent years, it appears electric cars are leading in the race for alternative fuel for road transport. This research will attempt to ascertain if the advent of electric vehicles will indeed affect the price of crude oil by suppressing the demand for crude oil via a reduction in the demand for refined fuel for road going vehicles. The research question has put in timeframe with the belief that in 10 years the electric car will be much prominent in the worldwide society. This time frame is subject to change based on preliminary research. Literature Review The literature review for this research will e mainly secondary sources. The review will rely heavily on academic and scientific papers concerning the use of fossil and alternative fuels. The review will gather secondary information from the main players in this area, including oil companies, vehicle manufacturing companies. Academic papers, government departments, trade bodies, environmental lobby and pressure groups. Literature obtained for this research will be carefully analysed and assessed to ensure the information is robust and biased in any way to support a view. Where literature is perceived to partial and counter-acting case will be put forward. Research Methodology. The research question is quite specific but in keeping with the current zeitgeist. The research will be mainly quantitative in scope and more inductive and rather than deductive. As a quantitative research, the paper will seek to compare number of vehicles with fuel usage and how this (if any) affects the demand for road fuel and subsequently influence the price of crude oil. This quantitative research will rely heavily on the figures supplied by both the government departments and relevant trade bodies, as well as academic institutions. The literature review, current affairs and news reports, mathematical calculations and deductions, scientific modelling should determine the impact of the development and roll-out of the electric car on fuel pump price and production.
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