Most young people don’t think too closely about their personal finances. Their primary concern is earning enough money to pay for the things they want in life, such as a nice car, a holiday with their mates, or some designer shoes. For the average 20-something, the future is a…
The idea of trading often pops up in our minds more often that we let whenever we are thinking of our future. However, with families, it becomes a bit hectic and somewhat an uphill task to even begin trading. More so because there is hardly enough money to…
A little more than two months ago, Uber CEO Travis Kalanick was forced to resign. What initially had the pretext of a temporary exit with the aim of calming the spirits inside the company, – the announcement coincided with the results of the investigation on sexual harassment that had…
Global investment in drone hardware is expected to reach $14 billion by 2021 according to BI Intelligence Estimates. Currently, the combined investment from the government, enterprises, and consumers amounts to $10 billion.
The rise of drones
Many businesses have made drones a central part of their functions. As drones can really…
The report “Riding the Energy Transition: Oil Beyond 2040” has recently been published by the IMF, which analyzes the role of the electric car in the coming years and the impact it would have on the price of oil.
What is striking about this report is that it concludes that in the fast-paced scenario, oil prices could converge at the level of coal prices, about $15 per barrel in the early 2040s.
Losing its exclusivity for motor vehicles, oil could become the new coal, with ample recoverable reserves and elastic demand.
In a scenario where oil loses its role as the main fuel for transportation, according to the report, the price of oil should fall substantially and converge to a level of about $15 per barrel, while today the price of crude oil is around $50.
Sheikh Zaqui Yamani, a former Saudi Arabian minister, commented that “the stone age came to an end not because of lack of stones and the oil era will end but not because of lack of oil”.
In the years of the industrial revolution we have witnessed energy transitions. First, wood sank as the main component of the US fuel base between 1850 and 1895. The proportion of fuelwood…