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Global shockwaves from electric cars will be here sooner rather than later

Shift in power. Illustration: David Simonds/Observer

Governments, the oil industry and car makers are waking up to the profound changes battery-powered cars will bring

Sunday 10 September 2017

Last week, Shell argued that the fuel savings from the efficiency improvements in internal combustion engines would outweigh those from electric vehicles threefold. The Anglo-Dutch company believes oil demand will not peak until the mid-2030s, despite expecting electric and plug-in hybrids cars to make up 35% of new car sales by then, up from 1% now. “To come radically earlier than the early 2030s [peak oil demand], there has to somehow be a demand change, and it’s not going to come from electric cars,” said Guy Outen, Shell’s executive vice-president of strategy and portfolio. But the company’s actions may tell a different story… FULL ARTICLE

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