From WHMP / clipart.com |
It should be noted that Big Oil is perhaps the most feared and respected industry in history. Oil is heating up the planet, but this hardly affects its use. In fact, oil fuels the most politically volatile regions of the world. During the last century, oil has dominated our economy and our politics. Oil is power.
Likewise, technology is about to undo a century of the political and economic dominance of oil. Being that Big Oil will be reduced in the next decade by a combination of applications for smartphones, long-life batteries, and simpler gears. Consequently, as usual, the new technology, the cancellation will occur much faster than anyone believes.
In order to obtain a greater understanding, it is necessary to deepen as to why Big Oil is in a much weaker position than anybody realizes. To do this, we have to look more closely at the oil axis in our lives: the internal combustion engine and the modern powertrain engine.
Eventually, the parts in the combustion vehicles wear out and fail. Examples are leaks in oil plugs. Worn belts. The transmissions take over. Coupled with this, there may be more problems.