This is why Dangote is not worried about the electric car revolution
This is why Dangote isn't stressed over the electric car revolution.
A greater part of tech lovers have out of curiosity desired to know the detrimental impact of the tremendous spread of the electric car upheaval that is taking place in the developed world on the new mammoth Dangote refinery currently being built in Lagos, Nigeria. As a matter of fact, in one of the comments I recently read on Nairaland.com, a guy interrogated if Dangote doesn't know that the world is step by step moving endlessly from gasoline cars to fully electric cars. Amusing inquiry. Today NaijaTechRoom has set aside time to address this serious issue.
Most importantly, anybody, who lets you know there is no genuine risk from the electric car upset and it can’t influence enormous oil companies and refineries are only trolling with you in deception. Analysts have anticipated that by 2025, there will be 26 million electric cars on the road. That is 26 million cars that won't utilize fuel. That likewise implies the interest for oil and gasoline will decrease too. There is a genuine danger from this insurgency yet the effect isn’t generally much on the oil industry yet. But with time the impact will be felt.
Tesla alone sold a stunning 245,240 autos in 2018 with the Model 3 the best selling electric car on the planet with more than 145,000 units sold.
Interestingly that figure will keep on rising each year with more car companies like Nissan, Ford, Audi, Mercedes Benz, Volkswagen, GM, Toyota and so on joining the electric car temporary fad. That implies the more electric cars that are sold, the less fuel will be consumed by car owners around the world.
Presently about Dangote refinery, truly despite the fact that he realizes the risk is there, he isn't generally made a fuss over it. At least not yet. That’s because the electric car industry is still very small right now compared to the oil industry.
NUMBER ONE: IT WILL TAKE AN EXTREMELY LONG TIME FOR ELECTRIC CARS TO DOMINATE
Despite the fact that there are colossal advantages of owning an electric vehicle today, it’s as yet a minority in the world of autos. Electric cars are getting to be less expensive, have additionally driving range, easier to maintain and progressively advanced. We know, but it will take decades for electric cars to begin to eliminate ordinary gasoline cars in the market by then Dangote must have made lots of profits from his new refinery. That’s because the car companies are extremely delayed in adjusting to the new innovation of producing electric cars. So yes gasoline cars are not going anywhere anytime soon.
NUMBER TWO: THERE ARE NUMEROUS PRODUCTS THAT CAN BE REFINED FROM CRUDE OIL APART FROM FUEL OR GASOLINE.
Crude oil is an exceptionally rich natural resource. It is a blend and mixture of that occur in the form of a black liquid called petroleum. So even if electric cars saturate the car market in future and people are no longer buying fuel. Refiners still have lots of other products they can make from crude oil and generate their profits. So if demand for fuel reduces, Dangote refinery will just change what they produce and keep making their profit in billions.
Crude oil is a blend of different hydrocarbons and products which are all very useful. There’s no waste product as far as crude oil is concerned. Apart from gasoline, there’s aviation fuel to produce, petrochemicals which are used as raw materials and sold to other companies. Plastics also come from crude oil, vaseline, diesel, kerosene, wax, petroleum jelly, insecticides. Ammonia for fertilizers, lubricating oil. Asphalt and bitumen which are used for building roads and bridges. At least I’ve not seen an electric aeroplane yet.
The industry is full of engineers and scientists who can adapt to any change. Embrace new technology and discover new ways to stay in business. So Mr Dangote is a very intelligent man and knows exactly what he’s doing. When he started building the refinery even though he knows that electric cars are coming. Yes, electric cars are coming but it will never and can never put the oil companies or Dangote refinery out of business. Not in a million years.
Most importantly, anybody, who lets you know there is no genuine risk from the electric car upset and it can’t influence enormous oil companies and refineries are only trolling with you in deception. Analysts have anticipated that by 2025, there will be 26 million electric cars on the road. That is 26 million cars that won't utilize fuel. That likewise implies the interest for oil and gasoline will decrease too. There is a genuine danger from this insurgency yet the effect isn’t generally much on the oil industry yet. But with time the impact will be felt.
Interestingly that figure will keep on rising each year with more car companies like Nissan, Ford, Audi, Mercedes Benz, Volkswagen, GM, Toyota and so on joining the electric car temporary fad. That implies the more electric cars that are sold, the less fuel will be consumed by car owners around the world.
Presently about Dangote refinery, truly despite the fact that he realizes the risk is there, he isn't generally made a fuss over it. At least not yet. That’s because the electric car industry is still very small right now compared to the oil industry.
NUMBER ONE: IT WILL TAKE AN EXTREMELY LONG TIME FOR ELECTRIC CARS TO DOMINATE
NUMBER TWO: THERE ARE NUMEROUS PRODUCTS THAT CAN BE REFINED FROM CRUDE OIL APART FROM FUEL OR GASOLINE.
Crude oil is a blend of different hydrocarbons and products which are all very useful. There’s no waste product as far as crude oil is concerned. Apart from gasoline, there’s aviation fuel to produce, petrochemicals which are used as raw materials and sold to other companies. Plastics also come from crude oil, vaseline, diesel, kerosene, wax, petroleum jelly, insecticides. Ammonia for fertilizers, lubricating oil. Asphalt and bitumen which are used for building roads and bridges. At least I’ve not seen an electric aeroplane yet.
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