Here’s What Some Think Will Happen When Self-Driving Cars Become Common


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.

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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?