Oil barons face a slow death by electrification

28 Jul 2017   Electric Cars

Opec, Russia and Big Oil thought they had half a century to prepare for the end of the internal combustion engine. At best they have a decade before the threat turns deadly serious. The twin announcement by France and Britain – within two weeks of each other – to ban sales of petrol and diesel cars by 2040 is an earthquake in the energy world. Others are moving in parallel. A non-binding resolution of the German Bundesrat has called for a prohibition by 2030. Norway already has such a target by 2025 and the catalytic effect is spectacular: sales of electric vehicles (EVs) reached 42 per cent of all cars in July. France is to ban petrol and diesel cars by 2040. China’s new plan stipulates that zero-emission vehicles must make up 8 per cent of total sales next year, rising to 10 per cent in 2019, and 12 […]

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