Electric threat
The oil industry needs to start taking the rise of alternative vehicles seriously
Oil and its products have given the world more than a century of easy mobility. Gasoline and diesel keep ambulances running and the plane you take on holiday needs jet fuel. They enable global trade, on land and at sea. More than any other commodity, oil allows for wealth creation. Countries with less crude, and therefore less mobility, are poorer. Oil helps yank people out of poverty. But its dominant role in global transport—like its function in power generation in previous decades—is coming under threat. It's starting with cars. As our survey this month suggests, it's time for the oil industry to take electric vehicles (EVs) seriously. They are a big deal—for the oil industry and the glob
Also in this section
26 March 2024
Country has Europe’s largest CO₂ storage potential but regulatory and policy issues must be resolved to enable growth, says Offshore Energies UK
26 March 2024
Largest investment to date will support emission reduction projects across multiple sectors including refining, steel and cement
19 March 2024
Commodity trading companies are set for a key role in shaping green supply chains and providing carbon market liquidity
15 March 2024
Oil major explores potential expansion of Canadian project as investment in CCS gathers pace