US majors in the slow lane on transport transition

US majors see little incentive to prepare for greater EV adoption

European majors are addressing the challenges of the energy transition in transport fuels by acquiring technology, conventional and renewable electricity generation capacity, and new positions in the electricity supply industry. But their US peers are limiting their participation to energy efficiency and new technology as the shale revolution continues to increase US hydrocarbons output. ExxonMobil and Chevron, and their competitors, largely appear to have adopted the attitude of "What is the hurry?", says an oil consultant. "Even if you look at the most optimistic assumptions on electric vehicles, demand will still be 90pc liquid fuels for the next 10 years at least," he adds. US EVs accoun