While global coal price has fallen by over 21% recently, crude oil price is down over 57% from its 2014 peak. As the US is continuously increasing the deployment of rigs, the global oil price could significantly be suppressed further. Of course, cheap electricity costs would facilitate the fast adoption of electric vehicles. However, the existing cost structure would take several years before the electric vehicles become very popular in the country. However, when the oil price peaked in 2014 from 2009 bottom, both diesel and petrol prices went up by over 65% in the same period.

Source: dna June 13, 2017 02:03 UTC