Sunday 10 September 2017
Last week, Shell argued that the fuel savings from the efficiency improvements in internal combustion engines would outweigh those from electric vehicles threefold. The Anglo-Dutch company believes oil demand will not peak until the mid-2030s, despite expecting electric and plug-in hybrids cars to make up 35% of new car sales by then, up from 1% now. “To come radically earlier than the early 2030s [peak oil demand], there has to somehow be a demand change, and it’s not going to come from electric cars,” said Guy Outen, Shell’s executive vice-president of strategy and portfolio. But the company’s actions may tell a different story… FULL ARTICLE
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