new world

The world’s big oil companies have worked pretty hard to prolong society’s dependence on petroleum. When there are trillions of dollars at stake, there is plenty of motivation. But those companies do see the writing on the wall.

An Exxon Mobil-funded study last year estimated that light-duty vehicle demand for combustion engine fuels could peak in 2025 and that electric vehicles of various types could grow to more than 50% of new car sales by 2050. This is pretty pessimistic compared with most other surveys, but it is still a big number. Exxon also projected that the global fleet of EVs could reach 420 million by 2040.

As a result of all this, Exxon is preparing for a future far less dependent on gasoline by drilling for lithium rather than oil. The company recently purchased mining rights to a sizable chunk of Arkansas land for over $100 million from which it aims to produce lithium for electric car batteries.

Exxon’s consultants estimated that the 120,000 acres in the Smackover formation of southern Arkansas could have as much as 4 million tons of lithium carbonate, enough to power 50 million cars and trucks.

Exxon plans to spend $17 billion through 2027 on cutting carbon emissions and developing low carbon technologies. Other large oil producers have also been looking at the lithium business. At the same time, some large oil companies like BP and Shell are investing in renewable energy.

The prospect of EVs dominating transportation in the coming decades is a strong incentive for oil-and-gas companies to adapt their businesses to the new world.

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Exxon Joins Hunt for Lithium in Bet on EV Boom

Photo, posted August 16, 2014, courtesy of Mike Mozart via Flickr.

Earth Wise is a production of WAMC Northeast Public Radio

The Outer Banks are a series of barrier islands off the coast of North Carolina that separate the Atlantic Ocean from the mainland. They are a very popular tourist destination featuring open-sea beaches, state parks, shipwreck diving sites, and historic locations such as Roanoke Island, the site of England’s first settlement in the New World. There is also Kitty Hawk, the site of the Wright Brothers’ first flights.

The ribbon of islands is nearly 200 miles long. Some of them are low and narrow and are only a few feet above sea level. Many are especially vulnerable to Nor’easters in the winter and hurricanes in the summer. The collision of warm Gulf Stream waters and the colder Labrador current helps to create dangerous shoals and some of the largest waves on the East Coast.

Over the years, developers have added billions of dollars’ worth of real estate to the Outer Banks. Rising sea levels and increasingly frequent storms threaten the barrier islands of the Outer Banks. Beach-front cottages have tumbled into the ocean for as long as people have built them in the Outer Banks but now they are falling at a greater rate and more and more are in danger.

The Department of Transportation has spent nearly $100 million dollars to keep NC12, the highway connecting the string of islands, open to traffic. Three new bridges built to traverse inlets opened by storms and bypassing rapidly eroding shorelines raised the cost by another half a billion dollars.

There are many other measures such as pumping sand into eroded areas going on in the Outer Banks, but ultimately, all of the measures may not be enough to deal with rising sea levels and more powerful storms.

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Shifting Sands: Carolina’s Outer Banks Face a Precarious Future

Photo, posted August 31, 2011, courtesy of NCDOT Communications via Flickr.

Earth Wise is a production of WAMC Northeast Public Radio.

Big Oil And Big Lithium | Earth Wise

The world’s big oil companies have worked pretty hard to prolong society’s dependence on petroleum. When there are trillions of dollars at stake, there is plenty of motivation. But those companies do see the writing on the wall.

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Trouble For The Outer Banks | Earth Wise

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