Wind and solar power can produce seven times more useful energy for cars, dollar for dollar, than gasoline with oil prices near current levels, according to BNP Paribas. Oil will have fall to $9/bl to $10/bl in the long term in order for gasoline cars to remain competitive with clean-powered electric vehicles, and to $17/bl to $19/bl for diesel, Mark Lewis, global head of sustainability research at BNP’s asset management unit, said in a research report.
