Environment & Energy
Related: About this forumBig Oil wakes up to the threat of rising demand for electric cars
The worlds biggest oil producers are starting to take electric vehicles seriously as a long-term threat.
OPEC quintupled its forecast for sales of plug-in EVs, and oil producers from Exxon Mobil Corp. to BP Plc also revised up their outlooks in the past year, according to a study by Bloomberg New Energy Finance released on Friday. The London-based researcher expects those cars to reduce oil demand 8 million barrels by 2040, more than the current combined production of Iran and Iraq.
Growing popularity of EVs increases the risk that oil demand will stagnate in the decades ahead, raising questions about the more than $700 billion a year thats flowing into fossil-fuel industries. While the oil producers outlook isnt nearly as aggressive as BNEFs, the numbers indicate an acceleration in the number of EVs likely to be in the global fleet.
The number of EVs on the road will have major implications for automakers, oil companies, electric utilities and others, Colin McKerracher, head of advanced-transport analysis at BNEF in London, wrote in a note to clients. There is significant disagreement on how fast adoption will be, and views are changing quickly.
BNEF expects electric cars to outsell gasoline and diesel models by 2040, reflecting a rapid decline in the cost of lithium-ion battery units that store power for the vehicles. It expects 530 million plug-in cars on the road by 2040, a third of worldwide total number of cars.
http://www.msn.com/en-us/money/companies/big-oil-wakes-up-to-the-threat-of-rising-demand-for-electric-cars/ar-BBEnJ5D?li=BBnbfcN&ocid=edgsp
Turbineguy
(37,320 posts)and gasoline is about 4 times as expensive as recharging.
gtar100
(4,192 posts)They have manipulated us for years by keeping us dependent on oil and gas. I know they won't be going away any time soon but I wish they would just go away and I wish they'd go fuck themselves in the process.