RIDGEFIELD, Conn., Sept. 3, 2015 /PRNewswire/ -- Stephen Hicks, CEO and Founder of Southridge
Capital, a diversified financial holding company specializing in
direct investment and advisory services to small and middle market
companies, has released a statement evaluating the impact of the
price of oil.
Going back a year ago, the price of West Texas Intermediate
Crude was about $95 a barrel. Over
the past year, as has been widely reported, oil has dropped
precipitously to under $40 per
barrel. Much has been made of the decline. Stated causes of the
decline have included OPEC not cutting production, increased
United States production, the
availability of alternative energy sources and the slow global
growth. Hicks says, "However, I believe there is another issue
which will have greater impact over time and that is the rise of
electric cars. What we are seeing here is similar to the
Wright Brothers and commercial air traffic a century ago. The
first flight at Kitty Hawk was in 1903. However, it was not until
1919 that the first municipal airport was constructed."
In short, Hicks says first comes the idea but then there needs
to be infrastructure and technical improvements to make it a
reality. It will take decades for there to be improvements in
battery and charging technology and there will be a great need for
charging stations on the road to allow people to drive for long
periods of time without stopping. "However, by the middle of
this century, internal combustion will be gone," concludes
Hicks.
About Southridge Capital: Southridge Capital is a
diversified financial holding company specializing in direct
investment and advisory services to small and middle market
companies. Since 1996 the structured finance team has made direct
investment of over $1.8 billion into
growth companies globally. Our expertise lies in our ability to
customize a financing plan for the prospective client and then
execute on that plan without fail. For more information, visit:
www.southridge.com
RUBENSTEIN PUBLIC RELATIONS
CONTACT: ANU KHER 212-843-9240
AKHER@RUBENSTEINPR.COM
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SOURCE Southridge Capital