Related Articles
Report
Forward article link
Share PDF with colleagues

Not so fast for EVs

EVs will get a bigger share of the car market, but won't pose much of a threat to global gasoline demand

The use of electric vehicles (EVs) will not surge because batteries become cheaper. Widespread adoption will not be at a similar pace to that of mobile phones. And every country in the world will not imitate Norway's policy. Those are three oft-made claims by EV boosters—but if you sell oil, rest easy. The threat of electric cars is overstated. A key conclusion of FGE's annual Global Long-Term Oil Market Outlook to 2040 is that while EVs will take a bigger share of the market, the growth will slow down, and their emergence won't disrupt oil-demand growth over the coming decades. In 2040, we still expect 60% of the global light-duty fleet—which by then will number 1.8bn vehicles—to be fuell

Also in this section
Qatar hits the gas
8 December 2017
Despite, or perhaps because of, the economic blockade, Qatar plans to expand LNG production by 30%
Cove Point boosts US LNG exports
7 December 2017
A second facility will start supplying the fuel to international markets as American liquefied gas shipments gather pace
Latin America's LNG slowdown
7 December 2017
A few years ago, gas exporters thought the Southern Cone would become a huge new market. Not likely