Electric vehicles alone could cause peak oil demand within decade

In an aggressive scenario, electrified transportation could displace 8 million barrels of oil per day. When Tesla announced that it had built 7,000 cars in a week, I got excited. Even though electric vehicles (EVs) make up only a small percentage of new car sales in most countries, those sales are growing rapidly. But how

The sun sets on drilling (Image: Pexels)

Electric vehicle sales promise shock for Big Oil

If motor manufacturers are right about the prospects for electric vehicle sales, an oil price crash won’t be far behind. LONDON, 5 July, 2018 – Oil and gas companies have underestimated probable electric vehicle sales and the effect they will have on their own businesses and profits, a new report says. If the car manufacturers’

Big Oil, Utilities are Lining Up for an Electric Vehicle War

BP and Shell have bought electric-car charging companies Power utilities are boosting sales to homes, chargers on roads A red-hot electric vehicle market has triggered a face-off between Big Oil and utilities. Oil majors, who’ve sold fossil fuels to cars for a century, are now moving into an electricity sector that’s preparing for exponential growth.