Global bank warns that thousands of gas stations will soon go bankrupt

Global bank wants that thousands of gas stations will soon go bankrupt
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#globalbank #gasstation #fuels #bankrupt #oilindustry
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[@baronvontollbooth484]

A new Exxon station opened a few months ago about a mile from my house. When it was being built, I saw some construction going on off to the side of the station. I thought, good, they're putting in charging points. Nope. It was a small dog park! Someone is not thinking ahead. Motels, schools, restaurants, shopping centers, grocery stores all should be putting in chargers. Some are. When the gas stations close down, I hope the underground tanks are removed before the fuel leaks into the groundwater.

[@michaelainsworth6849]

Same in my neighborhood! Disappointing

[@PyroShields]

I had a big gas station open up here over a year ago. By law you have to remove the tanks underground.

[@solentbum]

Just recently Bramley village, in Surrey, has had its water supply contaminated by leaks from an old Petrol Station, 600 houses were without potable water for several days, and the whole water supply in the area had to be carefully cleaned out.

[@davidbeppler3032]

I was at an apartment estate. They were talking about putting in Tesla superchargers in the center. Tesla offered them a great deal and the renters need them.

[@baronvontollbooth484]

@@davidbeppler3032 That's good news. Charging at home isn't really feasible for apartment dwellers since they rarely have garages available. I wonder if other brands of EVs can use those chargers, not just Teslas.

[@solentbum]

In my town in recent years, and before the effect of EVs, eight petrol stations have closed. The main reason was the price cutting of large supermarket chains, coupled with Government insistence that ALL Tax on road fuel is paid before it leaves the refinery. Small operators cannot afford to put up the thousands of pounds required to buy a product that can vary in price quite suddenly leaving them with a Tankful that they cannot sell at a profit. Add in the rising levels of control over fuel sales, such as better control of leakages, and fumes, and costs of a small retailer are more trouble than its worth. On a personal level, I used to spend over £140 a month on fuels at my local Supermarket. Ten years ago I cut that to £10 per year for the lawnmower. Now I have an electric mower. That's a loss of nearly £16000 in sales to the Petrol station. (£1680 a year at least at 2014 prices) Last year I spent £443 on Electricity for the 22600 miles travelled.

[@grahambate1567]

Well done, hopefully everyone will soon do as you have done , however there will always be some flat earthers out there ......

[@debeeriz]

our stations go up in price as soon as the barrel price rises, but takes weeks to go down if it drops

[@solentbum]

@@debeeriz In the UK, and probably elsewhere, the petrol station has to pay upfront for its supplies. If the wholesale price goes down the station has the problem of either continuing to sell at a price to make a small profit , or discount to the point where it loses money. Exactly the same problem occurs with many products, but since we do not normally know the wholesale price we make no comment when a shop fails to instantly drop its price for items in stock.

[@debeeriz]

@@solentbum nearly all our gas stations are owned by the fuel companies.and they have made record profits year after year since we deregulated the fuel industry in the 80s

[@fjalics]

​@@grahambate1567Sure, and maybe one day you'll be able to buy regular unleaded in cans like race gas, but sane people will buy an EV.

[@greghudson9717]

In mid 2022 I was driving my wife's Mercedes B Class 2L petrol engined car back from a country trip to Melbourne Australia. We were running low on petrol, but the petrol station had closed down. This happened a further FOUR times until we finally found one that was still in business. (this was on a weekday afternoon, not the middle of the night when lots of petrol stations are closed). Most of the sites had been SOLD, and were not being replaced with EV chargers, but to real estate developers who build multi story apartment blocks. It is rare to see a NEW petrol station, and if you do, there are no EV chargers (yet). How stupid are these owners? I noted a little while ago that SHELL were offloading 1000+ sites in the UK. They can see the writing on the wall, and have even started converting stations in London to pure EV charging - ripping out ALL the petrol pumps (as reported on this channel). Personally, I have no sympathy for petrol station owners, they are just as bad as drug dealers.

[@UndercoverScambaiter]

I live in a major city in Australia but I'm seeing the opposite. I've actually seen more petrol stations open then closed. I just don't get it.

[@alicat398]

Ordinary people trying to make ends meet and keep the country moving. Worse than drug dealers? That's insane.

[@Supraboyes]

yeah right lol

[@rogantwort7374]

Lol. Petrol stations are everywhere…

[@Bushtuckerman71]

Lot of them are unmanned and in the north of Sweden they also closing down

[@francismarion6400]

3 new 20 pump super stations within 2 miles of my home in the last year.

[@pr7049]

​​​​@@Bushtuckerman71True also in Finland. In northern parts government will propably rescue the stations, if there is only one in a town for the sake of defence and securing fuel security. There is a lot of old cars and diesel trucks that will need fuel for the foreseeable future. They will probably use synthetic green fuel in future.

[@evgrid2628]

In the U.S.A new gas stations are being built by hundreds. The Only ones being removed are ones with old tanks they are being replaced with newer high tech tanks and hardware. These smaller station are being replaced with larger stations.

[@donguess4332]

Yep gas stations and gas powered cars are here to stay whether people like it or not.

[@AllDogsAreGoodDogs]

I wish this were true, but it isn't.

[@Supraboyes]

@@AllDogsAreGoodDogs lol are you silly, ice vehicles build Evs. silly billy wake up it's a big con.

[@AllDogsAreGoodDogs]

@@Supraboyes If you think ICE vehicles have a chance of survivability, you are living in a fantasy world.

[@jasoncarmichael4540]

We have had two gas stations near us close down , due to bankruptcy

[@beautifulgirl219]

Wildfires in the Brazilian Amazon during the first half of 2024 were the worst in 20 years, with 13,489 fires registered, reports Agence France-Presse (AFP), via Colombia’s El Espectador. Citing satellite data gathered since 1998 by the National Institute for Space Research, AFP points out that only 2003 and 2004 surpassed this year's records, with 17,143 and 17,340 fires, respectively. Meanwhile, in Mexico, Hurricane Beryl could impact at least 10 states, according to El Universal. The outlet notes that Mexico’s secretariat of public education will cancel classes in some states ahead of Beryl’s arrival, as the hurricane is expected to land over the Yucatán peninsula on Thursday or Friday morning. In a separate article, a researcher at the National Autonomous University of Mexico has told the newspaper that three in every five hurricanes “are increasing in intensity, due to warming ocean temperatures”. Oil and gas industries have been knowingly LIEING to humanity for over 50 years, my sympathy for Big Oil is zero, they should be in jail.

[@greghudson9717]

Considering the Brazilian Govt does nothing to curb illegal forest removal, including burning, what do you expect ?

[@beautifulgirl219]

@@greghudson9717 People NOT to commit suicide through destroying the ecosystem that keeps them alive and feeds them. Not everything sensible in the world results from the actions of government.

[@robertfonovic3551]

Not YOU again.....

[@ExploringCabinsandMines]

LMFAO!! cool story bro

[@AllDogsAreGoodDogs]

​@@greghudson9717Bolsanaro deserves to be in jail.

[@geirvinje2556]

I'm a little bit surprised. In Norway the gas stations went from 2.928 in the 1990 and to 1.580 in 2017. After that the stations have increased, sort of.... They are at 1.700. But, there are fewer pumps, and more unmanned. But, the forcast says that many are on the brink of beeing shut down. Looks like the diffrent companies have a plan for which gas stations they are going to close down. Looks like the biggest problem is that the gas tanks in the ground needs to be handled in a spesial way. This is extra costly. So, therefor they keep some of the pumps as long as they can sell other things, like food, candy, and car stuff. Some has started to sell pizza, hamburgers, indian food, and some Chinese....

[@barrywong4327]

No need to get emotional about gas stations going out of business. They go the sane way as tobacco cigarette vendors, horse-carriage drivers, telephone switchboard operators, etc, etc. A small number of people get hammered but a gain for everybody else. They can’t go soon enough to help save the planet. That’s the bottom line.

[@aramide2980]

You really believe EVs are saving the planet? 😂

[@philiptaylor7902]

@@aramide2980 they are one piece of the puzzle

[@shannon6876]

@@aramide2980 Can you read? He said "help save the planet".

[@francismarion6400]

They said the same thing about Pharma after Thalidomide, but then we paid them even more for the clot shots.

[@DeveloperChris]

@@aramide2980 well we know one person who has no interest in helping save the planet. I wonder how our descendants will think about people like you? Not very kindly I am sure.

[@jmbelarmin]

If you go in a town that doesn’t have a supercharger, you can still plug in your EV in an 110/220v electrical outlet. But what happens when a town’s last gas station closes and the nearest one is 50 miles away? ICE owners will soon realize range anxiety work both ways.

[@acmefixer1]

Karma!! Those gas car drivers have been harping for years about EVs and range anxiety. Now they'll be getting to experience some of their own BS!

[@Supraboyes]

lol ok, keep dreaming

[@awabooks9886]

The stations with the vision and the means may convert ⚡

[@zzappligator]

We've been talking about a transition for MANY years now so gas station bankruptcies are a surprise to NO ONE.

[@davidbeppler3032]

Worked at a gas station. Trust me, it will surprise gas station managers, owners, and workers when the doors close. They are in a bullet proof industry. Nothing stops them from making money. Nothing except a lack of customers.

[@macmcleod1188]

@@davidbeppler3032 well in the United States many gasoline stations have very low profit margins on the gasoline and count on sales of other products. They are really a convenience store that also sells gasoline.

[@davidbeppler3032]

@@macmcleod1188 Thanks for agreeing with me. That was what I said.

[@robertfonovic3551]

@@davidbeppler3032 and there will always be customers

[@macmcleod1188]

@@davidbeppler3032 it was neither an agreement nor a disagreement. And, I mean this in the nicest way, there are some perfectly tasty decaffeinated brands on the market.

[@dcartier1692]

Now is the time to pass laws that ensure the underground tanks are properly removed and all environmental responsibilities are dealt with rather than abandonment by the petro pirates.

[@capnkirk5528]

Are you talking the US? Republicans? Who haven't even ACCEPTED the realities yet? Passing laws that benefit normal people and society to the detriment of big oil? Do you see how RIDICULOUS that sounds?

[@markboscawen8330]

I see that as a very real risk - especially in small towns. In major urban areas the demand for scarce land means the cost of removing tanks will be viable. The excavation left a head start on underground parking for a multi-story unit block for example. In small towns there aren’t the same redevelopment opportunities. The higher likelihood of a small town servo being privately owned & the higher risk of reduced fuel sales making the business unviable will combine to create the perfect storm of closure without the resources to fully rehabilitate the site. Inevitably, taxpayers will bear the clean-up cost. Though it would be more appropriate for a cleanup levy be applied to petrol & diesel.

[@aljohnson3717]

It is my understanding that according to the law in the United States business have full responsibility in returning the land back to the original condition after business closed for whatever reason.

[@haventsleptyet]

Im sure the scrap metal value of those tanks are to costly to leave in the ground

[@markboscawen8330]

@@aljohnson3717 not the case in every country.

[@Longtack55]

Home charging will screw gas to EV charging station transition economics

[@greghudson9717]

I use my home solar and wall charger to fill my Tesla. All FREE, and 0% pollution at the non existent tailpipe.

[@alanjameson8664]

The reason so many gas stations have markets or some other types of businesses is that the profit margin for gasoline sales is so very low. My grandfather opened a gas station back in the 1920's or 30's; the first time he saw two gas stations across from one another at the same corner he sold his and opened a battery repair shop. If half, or even three quarters of the gas stations we have today were to close it would not significantly inconvenience motorists.

[@ianclark9598]

In the UK, most of the gas (petrol) stations closed down years ago. When the supermarkets went into the market, they dominated it within a few years.

[@Guvament_bs]

If gas retailing is so unprofitable and charging stations are so in demand and profitable, why do they need such huge taxpayer subsidies.

[@jantjarks7946]

I'm with you. Remove all subsidies. No matter if it is diesel, petrol, electric or hydrogen. Let the people who are driving pay for their roads and streets.

[@holaclive]

In Seattle there's an epidemic of Charger cable thefts from charging stations growing problem as prices for copper, metals, rise with increasing demand. If this is a growing problem, every house will have to have a charger fitted.

[@macmcleod1188]

Well you go to induction chargers which have no cord for cases where theft is likely and to a model where the car has the cord in other cases. It's kind of insane to have a cord made out of highly valuable material that can be cut off in seconds and sold in minutes sitting unprotected out at night. We have run into a similar problem with catalytic converters. There are too valuable and too easy to steal from ice vehicles.

[@mikewallace8087]

Our city fires the electric generator steam boilers with natural gas.

[@ronfarnsworth7074]

​@@mikewallace8087The peakers are expensive and will soon be replaced by battery packs. It's happening already.

[@tedg1609]

Nothing compared to the theft of catalytic converters. Even a meth head knows platinum in the fossil car exhaust worth more than a bit of copper.

[@macmcleod1188]

@@mikewallace8087 which still produces a lot less carbon land pollution than gasoline engines. And it's a single point where natural gas consumption can be reduced with batteries and alternative energy.

[@notaurusexcretus4471]

Ultimately it’s our health on the line and I put that before gas stations

[@capnkirk5528]

Owned by the oil companies? Like they care? The same people polluting the air? The same people who sucked us all in with Lead in our gas? The prime cause of climate change, smog and city pollution? The Exxon Valdez people? THOSE people? You think THEY ARE GOING TO PAY? What kind of weed are you smoking?

[@Supraboyes]

yep drink that false cool aid

[@steveknowles9871]

DREAM ON !

[@willm5814]

Wakey wakey bro

[@safebatteries8315]

Too much hype for me, I'm out.

[@sunrisejak2709]

Something like 2 billion gas cars on global roads. Maybe 40 million EVs. Gas stations aren't going anywhere for a very long time.

[@Supraboyes]

exactly, plus they need ICE vehicles to build silly gigga factories, plus the ICE trucks to deliver the cars. also lets not forget the many ICE vehicles the mining and transportation of everything to build an EV.

[@bigwatts9694]

EV sales are falling quickly

[@sunrisejak2709]

​@@bigwatts9694Depends where you live.

[@jameswalker7899]

Am surprised to hear about the prospective disappearance of gas stations. Had somehow assumed that the gas station owners would be gearing up to cover themselves by acquiring dual capacities to deliver both gasoline fueling and electrical recharging simultaneously, so that as gas sales declined the recharging revenues might pick up some of the slack? No?

[@markneath7555]

I've been thinking the same thing for years but weirdly, a lot of local gas stations here on the Sunshine coast have had their tanks replaced, probably for legal reasons, and then renovated. I would have thought that it'd just pissing money down the sink!

[@Guvament_bs]

A new one opened in Nambour recently. They are building new ones every where. Yes some older ones are closing due to real estate values. The land is worth more as residential than a business any business.

[@myronp243]

A 5.3 billion $ industry who stands to loose huge profits will not go down without a fight.Lobby money and unions will be doing what it takes to affect government regulators and EV policies

[@ourv9603]

In the US very few gas stations are owned by the brand they sell. Most are independent petroleum marketers. Some are big operators with hundreds of stations usually selling several different brands in their stable but the oil co's like to drill & refine and count the money as their independent marketers pay them for the petro they buy. !

[@dylanthomas12321]

Fewer than 5 percent of America's 145,000 retail gas stations are owned by the oil refiners. 60 percent are family owned who operate one station.

[@tuppenceworth5485]

Road transportation consumes the largest proportion of oil production. With EVs increasingly replacing ICE vehicles and many countries setting a deadline banning the sale of new ICE by the next decade, the demand for petrol or diesel will drop significantly.

[@user-jt4fy4od9r]

Sales of Diesel (new cars) in the UK has declined to the point where they are now niche products - where EVs used to be a couple of years back.

[@francismarion6400]

Government driven not consumer driven.

[@BMWHP2]

Thanks Sam Yep, I live in the Netherlands, and read that article. I think it is correct.

[@billdavis3957]

Here in the U.S. small gasoline only stations are put out of business by very large gas stations with a convenience store. More profit comes from selling food than gasoline. With EVs becoming more popular, electric charging stations are slowly being added at the periphery of the lot. When demand dictates, gas pumps will be replaced by charging stations. At least one majornoil company is doing this. Remember, the goal is to make money whether selling gasoline or electricity or food and any combination. And establishing new charging lots is not easy so it makes sense to utilize existing large gasoline/comvenience locations as much as possible.

[@DrMikel-dp4kb]

We are seeing a huge increase in New Gas and Diesel stations being built across the U.S. looks like Government is rethinking the EV

[@undisclosedthai]

In Thailand, gas stations with no brand will shut down because it can't compete with famous fuel brands, except if it placed at very good location.

[@squishedfrog99-gp4qq]

Well, 50 per cent of EV charging stations will stop working as the companies that borrowed to build them go bust and the other 50 per cent get vandalised for the copper cables. Just to finish, as London is proving all financial breaks for driving an EV are disappearing and pay per mile is just around the corner. I see the value of older unconnected ice vehicles skyrocketing in a couple of years.

[@chrisward5626]

Lol you making up stats is pretty silly , ps you can charge at home and pay by the mile won’t be anywhere near the cost you pay for fuel .

[@mondeo984]

come on EV fleet in NL is 2.8% fully electric. No Sam, No not so fast as you believe.

[@SBha30]

American here. I just bought a new Model 3 Perf and love the driving characteristics. However I keep the charge level between 20-80% and have to charge every 2-3 days driving about 174 miles between charges. For a mass adoption I think we need 300 usable miles between charges. So I am not ready to give up our other gas car yet.

[@abelincoln3261]

In America most mom and pop stations are gone have been for a few years now. We have mostly major brands left BP Walmart Flying j... Large nation wide chains... The EV charging stations are disrupting that model fast... The US will be slow to convert .. but it will and as a result our fueling ...aka EV charging stations will also change our landscape too.

[@francismarion6400]

Don't forget Buckee's.

[@danielryan3442]

Sam you are not mean just honest. And in the end it is the best commentary. I really appreciate your work. Please keep at it.

[@BrunoHeggli-zp3nl]

Hes just a greedy bullshitter!

[@contraplano3157]

In Portugal, now is normal have one eltrical charger in gas stations

[@Sacto1654]

In fact, the likes of BP (who owns the am/pm chain of combined gas stations/convenience stores here in the USA) are already planning for the late 2020's, as as gas pumps are phased out and replace by future SAE J3400 charging plugs that can charge a vehicle to 80% full charge in under 8 minutes. The gigantic Bu-cee's convenience stores found in several parts of the USA are also preparing for such a transition, too, which means by the early 2030's the current gas pump locations will be replaced heavily by J3400 plug connector EV charging stations.

[@KlanHoffman]

In Sweden we already had a similar reduction in gas stations a few years ago due to "the pump law" that demanded gas stations to also carry one type of environmental friendly alternative.

[@KlanHoffman]

Compared to when I was young, at least half of the gas stations have disappeared here

[@davidbrayshaw3529]

Petrol stations have been going out of business one by one for decades. You might have missed the news. Modern cars use a fraction of the fuel of older ones and have a far greater range.

[@2470qwerty]

Casey's is planning on opening 300 new stores in the next 2-3 years.

[@smiith7996]

I doubt the present fuel stations will have enough room to cater for EV drivers to charge up. With liquid fuel you're in and out in minutes. With electric you've got to wait some time. That will cause queues and logistical problem too difficult to handle without massive re-development and most fuel outlets just don't have the room in the UK. We're a small country and space is a premium.

[@dominicgoodwin1147]

There’s nothing wrong with being happy that the energy transition is finally happening. Obviously the answer for a kind and forward thinking government is to help them invest in the equipment for ultra fast charging. But I’ve never known a government to be kind or forward thinking.

[@grahambate1567]

Spot on as regards government's...

[@chrisnewman7281]

It’s like history is going in reverse and we’re back to 1980 another 70 years worth of changes

[@tylovset]

Norwegian here, just came back from a 5400 km road trip to Austria with a P*2 - no issues what so ever. Paid between €0.3 and €0.48 per kWh exclusively with IONITY and Tesla chargers. My average consumption was only 1.7 kWh per 10 km with lots of 130-140 km/h on the autobahn (70-90 in Norway). Yep, those petrol stations are in big trouble.

[@johnd9031]

Tesla is closing a lot of EV stations also.

[@davidbrayshaw3529]

Not in the last two quarters.

[@GOLFandWRX]

I guess that means I'll have to have a couple of jerry cans in my trunk

[@grahammewburn]

Transport includes:- ships, planes, trucks & cars. Transport consumes about half all oil consumed. Construction, industry, agriculture, mining & objects such as your phone or computer plastic parts are from oil. 6,000 products are made from oil. Mankind is totally oil dependent. Oil discovery peaked in 1964. Demand now exceeds supply. Unsustainable.

[@MortenB0]

In Norway many gas stations have closed down while others tries to survive bey removing some of the gas/diesel pumps and put up DC fastcharges. Then they increase the food part to more hot dishes and dinners. North of Bergen there is a Circle K (Haukås) that was early and got one of the first 8 stall Tesla charging station in Norway, right in front of the gas station. And guess what the Tesla owners spend some of the fuel savings ? Something good to eat at Circle K... Later they added 2x 50kW Circle K charger and 6x 350kW Ionity chargers. Then there is a Shell station a short 1km north with no changes the last 15-20 years. How they survive is a mystery, hardly any cars there filling their tank nowadays, looks nearly always empty. 15 years ago this place was a meeting point, ques for a hot dog and some times even for gas.

[@francismarion6400]

So where is the increased demand going then?

[@MortenB0]

@@francismarion6400 Increased demand ? In Norway 99% of EV owners charge their car at home. Most only use fastchargers on long trips, like on vacation. And like when I forgot to plug in the car in the evening and have to drive somewhere the next day. The exception might be the old Tesla's with free charging than hang out on this location often filling up the 8 Tesla chargers (that is Tesla only)

[@francismarion6400]

@@MortenB0 How dependant is the Norwegian economy on oil exports?

[@MortenB0]

@@francismarion6400 I do not know actually, but what I know is that oil is sold for USD only and basically all is invested in shares on non-Norwegian companies. So I guess Vanguard and Blackrock rob us like a 3'rd world country... The only oil refinery we now have is running on full nearly only making products for the "green new deal" that seems to need more oil than the old "deal". While we purchases 100% of the gas we use from Russia.

[@hardi.howdy.983]

"Global bank wants..."?? Wants what??

[@davidherbert5027]

There will be changes, but we must let it happen naturally, in response to market forces. We must avoid change by legislation. My friend, Peter, has operated a surf shop in Cape Town for the last fifty years. He told me, decades ago, that his shop was a de facto clothing store and he just sold surf boards on the side. Similarly, the petrol stations in Australia are de facto convenience stores, who just sell petrol on the side. If we can prevent the government from interfering, these convenience stores will gradually sell less petrol and more electricity, until the electric transport revolution is complete.

[@Pro1er]

I don't know if it is true or not but here in the US the gas station owners claim that they make only a few cents per gallon on gas, the real money comes from food and trinket sales. Maybe many of these gas stations will become convenience stores with quick chargers.

[@waynewallace2061]

It's true, I was in the biz.

[@bobcannell7603]

Many small fuel stations have shut in the UK. Everyone is trying to open fast food outlets, convenience stores, coffee bars anything to make some profit. One CEO of a big chain said they make more profit on the post fill up latte than the tank of fuel. So knife edge profitability. Won't take much fall in turnover for a wipe out.

[@dallasdrew2390]

Great news !!!!!

[@neildolan7177]

Click bait. Thought you were better than that.

[@Guvament_bs]

No. That's how he makes his money.

[@darknight8757]

No one will force me to but ev. Diesel and Petrol for life

[@greghudson9717]

I presume you are really old, and won't last long ?

[@undisclosedthai]

No one force you and me except dictator government

[@Brian-om2hh]

What will you use as fuel once you can't get petrol or diesel anymore?

[@donguess4332]

Lol. Fossil fuels are here to stay

[@sarg3146]

This implies that the Oil Companies will hit back at EVs hard in any way they can (more than they have already!). They are of course very influential, very skilled lobbyists. I can't imagine exactly how it will play out. British Petroleum has already announced they will be going into the charging business. That is a great response. I'm sure some of the others will pull every diry trick imaginable.

[@Hitstirrer]

MFG ( Motor Fuel Group ) in the UK operate from 1200 forecourts. They have been smart enough to begin to install EV charging hubs at a lot of their sites. Over the last couple of years they have already installed 3000 Rapid chargers at 500 of their sites, and plan to spend £400 million on this EV transition. They recognise that such a phased transition to remove petrol pumps and increase Rapid chargers over time is the way to go. They have the real estate and ideal locations as well as established mini markets and café to continue in business.

[@nononsenseBennett]

Imagine the air we breathe in the future when gas vehicles are gone. Each vehicle consumes massive amounts of oxygen which deprives living organisms of the air they need. Imagine how the climate will change once there is more oxygen. Something to think about.

[@abiliomoreira3265]

There are several gas stations in construction in my city.

[@pjqziggy]

Nonsense!

[@handlaidtracksand3dprinted922]

We never had many gas stations here in Amsterdam to begin with. As an American is always amazed me how few gas stations we have. I rode a scooter here for a few years, the only time I bought gas in Amsterdam. Just public transport, bike and now electric bike FTW!

[@markboscawen8330]

I see the closure of petrol stations in Australia first occurring in capital cities & very small towns. Capital cities because, once the profitability drops below a particular threshold, the land has better ROI when used for another purpose. EG multi-story housing with a drive through grocery staples mart at ground level (peeps will still want to get milk, bread, etc on way home when no servos in the area.) Very small towns servos are equally first at risk as they aren’t high throughput high profitability businesses. So reduced fuel sales will have a higher impact on business viability. In many cases even the land itself will be unsaleable as the cost of demolition, removal of tanks & site prep for another use will be out of proportion to potential ROI. As servos close petrol & diesel prices will increase for two key reasons. Reduced competition & the need to amortise fixed costs over a lower volume of sales. (This won’t just affect servos. The whole oil extraction, refining & distribution chain will also be impacted.) These disproportional price rises will encourage more motorists to buy an EV. Which in turn puts more pressure on prices resulting in more buying an EV. Then it’s rinse, repeat. Rinse, repeat until servos are only found in industrial estates & highway service centres. Over time, even these will close or transform into supercharger centres.

[@julesgosnell9791]

I was thinking the same thing a few weeks ago, so... I wondered, what would be a good business idea that you could run on the same sites... a few days later I figured it out - cyber-cab service centres - you need a forecourt, charging facilities (could just be a big Tesla battery dropped off by cyber-semi once a week/month until you can get the cables in), car-wash and valet-ing... - sorted :-) Unfortunately, I don't have the money to buy up all the broke garages... but someone will....

[@greghudson9717]

The buyer of all those dead stations should be TESLA, they have US$30+ billion cash in the bank !!!

[@julesgosnell9791]

@@greghudson9717 Yes - that is one possibility, although they may want to allow others into the robo-taxi business just so as not to look too monopolistic...

[@LonglingEriksen]

Virke union for the gas stations in Norway predicts 6/10 stations will close soon.

[@aussie405]

In 1960s Western Australia, there were petrol station rosters on the weekend. Eventually there will be fewer and fewer stations and they won't be available 24/7.

[@bossman6174]

Noooooooo!!!!!!! Where am I going to go now to wash the windows of my EV. I guess I will have to buy my own squeeze.

[@pontiuspirate1925]

The number of new ICE cars sold in Australia increased dramatically the past 12 months June 30, 2023 to June 30, 2024 so there’s more ICE cars on our roads than ever. Hybrids are outselling BEVs here so service stations (gas stations) have a solid future in Australia.

[@filippoleombruno8624]

In South Australia we are being saturated with petrol stations,most have morphed into cafes and convenience stores

[@terencecollins4092]

I dont always agree with you Sam but I do find it absurd that in Australia we are still building new Petrol stations and refurbishing old stations. It reminds me of Bordertown and Seymour both had a golden mile of service stations 3/4 of a tank from Adelaide and first stop from Melbourne but when the freeway bypassed both of them the fuel stations all crashed some pulled down others become restaurant and one became a Funeral home (theres an omen)

[@freeheeler09]

If you add up higher insurance, food, energy and other costs, as well as higher taxes and fees and declining home values from global warming, the climate crisis has cost my wife and I a few hundred thousand dollars already. Oh, I’ve also had to spend tens of thousands of dollars and hundreds of my own hours making my house more fire resistant. Replacing wood decking with concrete porches, wood siding with concrete board, asphalt roofs with steel is not cheap or easy! A lot of people in Australia, Philippines, Greece, etc. have taken a far bigger hit.Their family members have been hurt or their homes or businesses have been destroyed. I’d love to send a bill for our losses to Exxon, the Saudis, the US government, Norway, Shell, etc.

[@Bluesayshello1]

I’d love coffee shop or food parks with EV charging as replacements for some of these monstrous gas stops (if you have a large 24 pump gas station, you need to replace it with something or lose your investment) sadly I doubt many gas stations have the capital to switch, and the ones with the money aren’t likely to do it.

[@jamesdubben3687]

You also don't want to get stuck with a gas station with leaking fuel tanks under the ground and that liability

[@philiptaylor7902]

Great video Sam

[@johndoyle4723]

Another comment, you mentioned home owners with solar panels charging their EVs, here in UK, no point any more if you are on the right tariff and have a home battery. I can export at 15p/Kwh during the day and charge my EV at 7p/Kwh at night, so any solar surplus goes to export.Yes things can change and I will respond if they do.

[@abelincoln3261]

EV charge station are setting up at MC Ds at parking lots at street side locations apts condos hospitals stores ..etc....

[@JasonLowderTheRanga]

I feel that there are two business cases for energy provision "stations", and both could be started today 1) Less shit food. Seriously, if you made a petrol station / roadhouse with good sit down meals and kicked Mc Shit and Krappy Fried Chicken to the kerb, you would end up with a destination full of EV's charging and people eating good food. If you look in Japan, this is a thing - these places are like big food courts with the service station as a little side business. Every parking bay could be making a 10c kwh markup, and then charging rent to the food providers. These food providers could be providing higher value meals than Mc Crap. 2) Supidmarkets. Coles, to their credit, is getting in there. Moccasins on Everyone (Moe) and Bairnsdale Coles both have superchargers. Guess what, people go and shop and charge. For holiday towns, this is going to be a bonanza.

[@rare_wubbox360]

Here in Norway a whole lot of stations has closed down.. as mentioned The petrolheads are always screaming about range anxiety..now they to experience their fud Driving a Tesla there is no fears.. filled up every morning, and plentyful of sc when roadtripping

[@callmebigpapa]

They should partner with Tesla or similar to install Superchargers. Then pivot to a business that focuses of providing services like coffee, snacks and convenience food for while the cars are charging.

[@grahambate1567]

Very interesting and I am sure will also happen in the UK within 5 years

[@ronmorris1191]

Some service stations will survive by converting petrol pumps to electric chargers, and while the vehicle is being charged serve breakfast coffee or snacks . It mainly depends on individuals creativity.

[@Wandering_Bear]

I don't understand why this would happen. Can't they replace the pumps with chargers, and establish a small diner, or cafe? I always want a drink or a meal when I'm charging. Most people don't charge for hours, they are in and out so as to be on their way. I charge at a local market/cafe so I can top up while I have the time to relax. (I am not allowed to charge at home so the charge/meal is part of my routine)

[@stevenmething1490]

more than 50%, more like 90%, ditto garages, almost no servicing

[@davidbuchan3753]

They better sell to develop the property asap… But the land takes YEARS to detox…😊

[@marccracchiolo4935]

Can’t some of these install EV chargers and keep selling both until the change happens???🤔

[@frankcoffey]

One issue with the value of a gas station is the clean up costs. You can't just leave those tanks in the ground.

[@Brian-om2hh]

They usually get pumped out and filled with concrete or expanding foam.....

[@lauchlanguddy1004]

gas stations owned by huge corporates not mum and dad

[@buixote]

I wonder if any governments are trying to help small businesses with this transition. If legacy auto and big banks can get bailouts, how about mom & pop?

[@Zindo.Majesty.HisMajesty]

Kind of getting ahead of things

[@neildolan7177]

If you do not want to be poisoned you would not live in Australia. There are no vehicle emissions standards & there is a major push back from politicians.

[@greghudson9717]

Euro 6? emission standards have recently been made mandatory in Australia.

[@neildolan7177]

@greghudson9717 with a lot of push back from the Coalition. It's not going to take immediate effect. Another nation disgrace. We are the laughing stock of the world.

[@user-iw2gj9gk4j]

Remember huawie executive was arrested on the behalf of their masters and than released on deal with US😂

[@stefanpredl6849]

Dont think so replacing em whit a batterie and fast chargers doesnt seem that complicated from regulators than getting a new tank and pump installed

[@grahamalder5207]

Did you mean “warns”?

[@shannon6876]

Given how long this has been coming, why haven't these gas stations been investing in installing EV chargers? This is not a surprise situation!

[@francismarion6400]

Because even in a energy conscious State such as California, barely 7% of vehicle owners drive EV's.

[@rodmitchell831]

Great news Sam

[@electricviking]

Thanks Mate!

[@anniemayflower9187]

When said I don't take pleasure watching gas stations shutdown I knew was joking was going to say I actually do take pleasure

[@CombatSport777]

I really hope these gas stations close down! It isn’t as though the business of providing energy for transport is going away, it is just transitioning. Good luck getting rid of gas stations in South Dakota though! Half the state is covered in corn which is used to make ethanol for vehicles.

[@maggiechan33]

Sam, don't feel bad for the gas stations and esp the oil companies; they have made their obscene profits.

[@alex.velasco]

It is inevitable that petrol/gas ICE cars will be phased out and replaced with EVs. Petrol/gas stations are living on borrowed time.

[@tbone5654]

Will take 20 years to get all ICE cars off the road after the last ICE car is sold. 60 million ICE cars were sold world wide in 2023 and 2024 is on track to be higher.

[@bfree6197]

🙄 probably take longer than 20 years... nearly 25% of cars are 20 years old and older. People are also continuing to keep cars longer and longer. Probably more like 30 or 40 years.

[@reiniernn9071]

@@tbone5654 It will...that is why only HALF of the petrol station will close down...not all. But remember...in 2013 there was no infra for EV cars. They were bought by those people who needed a car for short distances only....and in tyhat year the government gave very high incentives due to the lack of infra. Now we can charge everywhere... If we have in 2024 10% ev drivers we 'll loose more than 10% of revenues in the gaz stations (Mostly people who drive more miles are buying these cars with a little higher purchase costs...because those are the people who will earn back the extra investment in mo time with savings on energy.) In 2034 the last ICE will be sold....if anyone wants those ...in 2040 most of the cars are electric...people with petrol cars get anxiety if they can find a petrol station....

[@elhoward7440]

@@tbone5654 I suspect a lot of the hybrids being sold now will be on the road longer than 20 years.

[@beehappy7797]

@@bfree6197 In 10-15 years it will be cheeper to buy å new EV than run an old gas car. The fuel price will sky rocket and an Ev vil cost $10.000

[@michaelainsworth6849]

And yet even now, they are building more new gas stations on almost every corner on my neighborhood. So frustrating. They dont even go the hybrid model and have both gas and electric charging at the new ones. They are after a quick buck. But when these gas stations close, they usually go bankrupt and there is no money set aside for environmental clean up. There are already plenty of leaking gas station tanks leaking in closed gas stations.

[@FRWD_FXLRST]

Gotta tax everyone per mile. Now own nothing and be happy.

[@hansraub8663]

Two brand new Gas ⛽️ stations open in our county during the last year ? !