arun wrote:X Posted from the “Oil & Natural Gas: News & Discussion” thread.
A month old article that has not been posted on this thread built around an interview by First Post of MD and CEO of Indian Strategic Petroleum Reserves Limited (ISPRL) which is liberally dusted with nuggets of information on our country India’s crude oil storage.
We currently have a storage capacity totalling 74-74.5 days of crude oil requirements. This is slated to rise to 86-87 days of requirement when ISPRL completes phase 2 of its plan. ISPRL built its present storage capacity at USD 17 per barrel of crude oil against global average of USD 23 per barrel:
‘India’s reserves built at $17 per barrel, global average is $23’
In stead of building the oil reservs, India could simply cut the oil consumption by going electric.
Indias oil import bill was 125 billion USD in 2018.
Charging stations cost a typical of 1000 dollars per unit. 10 billion dollars would be sufficient to build 10 million of them. Add in another billion for 10 000 fast charging stations along Highway (3 Cr per unit) About 5 billion. Hence the charging infrastructure would cost 15 billion.
A typical midsize car requires 60 Kwh for a genuine range of 350 km. The cost of a battery is 6000 usd (large scale poduction). A typical car should be possible to purchase for around 10 lacs. Lower spec and standard then Nissan leaf. It will run about 5Km per unit of electricity.
Hence cost of driving the car 1500 Km per month would be RS 1 800
Compared to an average car that gives 15km per liter the cost would be arround RS 7000. Hence the savings would be Rs 5200 (add lower maintnace, oil etc).
The EMI for the battery pack would be around Rs 5000 with interest rate of 9% .
So why go for something that is almost as expensive as oil cars? In stead of handing the dollars to the Oil rich countries, India will be spending it on the domestic market.
Add the benefit of cleaner air and less noise.