Time to invest in oil replacement such as hydrogen?

Oil prices have been trading around $50 USD/barrel for months.

- Oil producers have said that oil prices have been depressed.
- Oil producers have been producing lots of surplus oil in the market.

Oil producers have been worry about electric cars and hydrogen cars that would make gasoline cars obsolete, thus they pushed down oil prices. However the gasoline prices have been up recently around $1.00/L in Ontario, Canada. Therefore this low price gasoline price doesn't exist.

1. Tesla's electric cars are getting into $30K USD range, which could be affordable by many users.

2. Hydrogen cars such as fuel-cell car by Toyota and smaller version of hydrogen snow mobile by Bombardier are promising.

a. Toyota's fuel-cell car is more expensive in the range of USD $60K, thus it's hard to get into mass users.

b. Hydrogen's snow mobile by Bombardier has proved that they could reuse the gasoline engine, and at similar price ranges. This is a crucial point to replace gasoline engines.

- Making improvement for car engines would be the next step.

- As the governments have been pushing for clean environment, hydrogen filling stations would be built quickly. Hydrogen engines only release water vapors, i.e. clean.

3. Hydrogen car, automobile, and bikes would be in needs in countries like China, Viet Nam, and India, where cities were highly polluted with smokes. Mexico City is also on the list.

- We have no reasons to support oil industry, which wanted to get our money on gasoline to compensate lower oil prices. Basically consumers got choke for high gasoline prices, which crippled economy indirectly.

4. Hydrogen is the abundant source in the universe. We should build nuclear power stations or ocean wave turbines to generate energy in order to extract hydrogen.

- Hydrogen would be used in cars as well as heating after natural gas depleted, unless natural gas prices were as high as gasoline currently.

5. Canadians do support oil industry for jobs in Alberta, but it didn't mean that oil industry could choke us as well as Canada's economy.