How Robo Cars Will Impact Everything Else:
In this video, Tony Seba and the ReThinkX think tank say self-driving cars will change the world, to the detriment of the geopolitical and energy world we know today. “Oil demand will peak 2021-2030 and will go down 100 million barrels, to 70 million barrels within 10 years. And what that means, the new equilibrium price is going to be $25, and if you produce oil and you can’t compete at $25, essentially you are holding stranded assets,” Seba told CNBC.
According to CNBC, when self-driving cars become common:
Entire professions could become obsolete. Beyond professional drivers for cars, trucks, and buses, there are salespeople, insurance workers, fuel-station owners, parking attendants, car-wash workers, and more whose livelihoods could be at risk.
• Power distribution could change. A sharp increase in electric-car usage could make decentralized power generation more cost effective, and all of those plugged-in batteries could be used to feed electricity onto the grid in the event of a shortage.
• Reduced need for parking spaces will free up large amounts of prime city space for development. Real estate investors who have bet on steady long-term cash flows from parking facilities could one day face waning demand.
• No more speeding or parking tickets, and no more meter fees. Cities will have to make up the revenue, perhaps by taxing mobility services.
• Programmers will be forced to make life-and-death decisions in advance, until regulators create guidelines. For example, if a pedestrian darts out in front of a passenger-carrying robo-car, should the computer prioritize the life of the passenger or the pedestrian?