Summary By 2040, 30 percent of all new car sales will be electric, according to analysts at IHS Markit. What does this massive increase of electric vehicles mean for the future of oil? Is the death of crude oil imminent? It doesn’t appear to be, and there is still reason for oil markets to be […]
Electric Vehicles and the Future of Oil
Tesla, BP investments in China point to a big electric vehicle future there. Just two percent of all auto sales today are electric. It is estimated that over 3.5 million electric cars are on the road today, and there may be as many as 36 million electric cars by 2025. By 2040, 30 percent of […]