Last year, Americans consumed 385 million gallons of gasoline a day, more than in 2014. Despite the broader selection of good electric cars, U.S. sales of electric cars declined from 2014 to 2015 to less than 0.6% of total cars sold, while sales of gas-powered cars and SUVs set records. President Obama’s 2011 goal of 1 million electric cars on the road by 2015 fell short by more than 600,000 vehicles.
As long as there is strong consumer demand for gasoline and gasoline-powered cars, oil producers and gasoline refiners will continue drilling for oil and refining gasoline and enjoying consistent profits and popular support while doing so.
By contrast, sustained and consistent reduction in the demand for gasoline will eventually cause oil production and gasoline refining operations to grind to a halt, regardless of what Congress or Shell Oil decide.
How can a major reduction in consumer demand for gasoline be brought about? Read more…