JP Bolton, Vice President, Wheeler Resource Recovery
Despite hand-wringing over the future of oil and gas, the reality is that most of the world’s infrastructure is currently built on it, with demand growing in many countries.
For example, take commercial flights. Flight Journal recently reported that short range (250 miles), small capacity (19 seats) electric flights have the potential for takeoff as early as 2030. Today, however, the average flight hosts 138 seats and 250 miles is a relatively short haul when it comes to air travel. To put that in perspective, 250 miles is the approximate distance between Dallas and Houston.
A full transition to an electric aircraft fleet is still many, many years away. For the foreseeable future, investments in secondary oil recovery are smart, viable opportunities.
The point being that aviation always has the leading edge in technological breakthroughs. Truly viable electric cars are at least that far off in the future. Gasoline and diesel engines will be the primary transportation mechanisms for the next three decades, minimum.
To read the full article referenced above, Flight Journal members can access it here.