Volkswagon has announced that they are developing 30 NEW MODELS of 100% electric vehicles, to be rolled out over the next decade.
What does this mean for us? What does this mean for investors?
First of all, what would this mean for our electrical grid. If, let's play pretend, that
30% of Canadian cars are electric by 2026, that would put a HUGE sucking on our hydro grid.
Would our grid be able to hold up? Would my province stop selling electricity to the USA in order to keep our electric cars humming? Or would the humble consumer be stuck with outrageously jacked up electricity prices? Would the 30% charge their cars mostly at their homes via their home garage outlets?
Would there be localized "electric refueling stations" around every corner?
I know that Suncor is already developing their next strategy in how they serve the public in the new era of
multi-fueled vehicles. Does every typical gas retailer really WANT to start selling electricity to locals or tourists? Secondly, from the looks of it, it can take a pretty long chunk of time to re-charge a car battery for an electric vehicle. Do we really want to leave our cars for several hours at a re-fueling station? Is that feasible?
Is that affordable? Will re-fuelling electric stations charge tourists for parking fees as well as the electricity they use to "refill" their tanks?
Well, when it comes to investing, should we all start funneling our investments out of oil and gas stocks and into the electrical grid? But then again, did you know that as of 2014 data,
8.7% of Ontario's electricity was produced by Oil and Natural Gas?
So maybe we have to step back and try to get at the big picture. Going ALL ELECTRIC is not going to eliminate our dependence on oil and gas. It just will change the process.
I definitely don't have all the answers....but we sure do need to think this through.")
Peacefully and Thinkfully yours,