Big Oil and Energy conglomerates will still remain at the helm of our fuel supply, because they are the only entities able to meet consumer demand. In order to make full use of our available natural gas, the current production and dispensing stations would have to be retooled. This includes retrofitting over 150,000 gas stations, each one with an approximate price tag of 1 million dollars. In spite of the enormous expenses, innovation will continue to allow energy companies to remain profitable.
Car manufacturers have also begun to rely on innovation to meet consumer demand. General Motors sank millions into the development of the Chevy Volt car. This vehicle can run for 35 miles on a single charge of its batteries, before switching over to a gas powered, electric motor. Depending on your driving habits, this car could save you a lot of money on gas. Sales have finally started picking up this year (2012).
A problem with current electric cars is their price, their relative inefficiency, and their tendency to burst into flames. Clearly some things still need to be worked out. A breakthrough with hydrogen power could potentially alter the markets as well, but this probably won’t happen anytime soon. Hydrogen Engines run on water, and I can’t imagine that being too profitable for anyone. Since our Oil industry is so large, and currently switching to natural gas, it is safe to assume that in the future our cars will run on gasoline, made from natural gas.
