Related Articles
Report
Forward article link
Share PDF with colleagues

Electric vehicles—the great unknown

Forecasters agree that EVs will hurt oil demand—but on the size of the impact consensus is scant

The growing popularity of electric vehicles (EVs) has been one of the major themes of the new century. The global fleet is now greater than 1m units, annual sales are growing by about 50%, and zero-carbon transport will be a trend for the next two decades. Rapid EV development is a critical part of the decarbonisation goals enshrined in the Paris Agreement. Transport accounts for about a fifth of global emissions, according to World Bank data, and only a wholesale shift to zero-carbon transport would let the world reach its target by the second half of this century. If so, oil will be a casualty. Transportation fuels account for around two-thirds of every barrel of oil refined. "It is very

Also in this section
Storage fundamentals turn
20 October 2017
A shift in most oil markets from contango to backwardation is changing the outlook for the global storage business
Electric charge for EVs in Norway
18 October 2017
The electric vehicle market is expanding rapidly in Europe but a lack of sufficient infrastructure remains a problem. Christina Bu, Secretary General of the Norwegian Electric Vehicle Association explains all
Russia's LNG threat boosts export liberalisation prospects
17 October 2017
Don't expect the market to be freed up anytime soon, but Russia is at least thinking about busting Gazprom's monopoly on pipeline gas supply