Oil prices could decline to $35 a barrel next year if China and India speed up the adoption of electric cars to cope with severe pollution, Steen Jakobsen, Chief Economist & CIO at Saxo Bank, told UAE’s news outlet The National in an interview published on Wednesday. “I think down the road, this whole electrification which is a big issue in 2018 will really kick off,” Jakobsen, who is known for making bold predictions, told The National in a phone interview. “The reason I think it will be big is that the single biggest issue in China is pollution and a way to deal with it is to get electric cars. On top of that, India has a similar problem,” Jakobsen noted. Earlier this year, China and India unveiled plans to dramatically accelerate the adoption of EVs, which has prompted the IEA to take notice and promise a review […]