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Oil demand and electric cars: A disjointed dilemma

  • Thursday, December 1, 2016
  • Posted By Meagan Wildfong

120116

Source: The Barrel Blog | November 29, 2016 |  Robert Perkins, Senior editor/writer

With the automotive industry tipped as ripe for disruption and a growing imperative to rein in climate change, the recent rise of electric cars has sparked both excitement and angst of late within the global energy industry.

Tougher emissions regulations, falling battery costs, and breakneck advances in networked technology means affordable alternative to conventional vehicles are on the verge of a mainstream breakthrough.

Once a critical tipping point is reached — so the narrative goes — mass market adoption of electric transport will trigger an abrupt and painful end to the hydrocarbon age, taking with it the fortunes of oil producers.

In reality, the future of electric cars and their impact on oil demand remains far from clear. Forecasts of their market penetration vary widely and require substantial guesses on oil prices, further efficiency in existing motors, and government policies.

 

To read more, please visit Platts The Barrel Blog here...

Platts Electric Car Oil

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