2019’s biggest story in mobility is not about Waymo, Hyperloop, or Lime – nor is it about innovations coming out of Detroit, Silicon Valley, or Germany. It’s in the Middle East, and it’s about oil.
Amid all of the excitement around new mobility technologies, a single, inescapable reality often gets lost: modern transportation does not run on lidar, telematics, or any other technologies. That is why 2019’s biggest story in mobility is not about Waymo, Hyperloop, or Lime – nor is it about innovations coming out of Detroit, Silicon Valley, or Germany.
Since oil is a globally-traded commodity, a supply disruption anywhere affects prices everywhere. Even worse, this single commodity has a virtual monopoly over mobility: the U.S. relies on oil to power 92% of its transportation sector. This renders American commuters and businesses vulnerable to price shocks caused by, say, a drone strike halfway across the world at an oil processing facility that they have probably never heard of, by a rebel group they know nothing about.
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