No EV shock for oil refineries – The world would still need oil over the next few decades


No EV shock for oil refineries – The world would still need oil over the next few decades

In 1900, about 38% of the cars on the road were electric vehicles (EVs), while 40% of the cars were powered by steam and only 22% were running on gasoline. The fastest car of the time was an electric car, and even the first Porsche was an electric vehicle.

By 1914, Thomas Edison and Henry Ford were collaborating to build a cheap and practical electric car for mass production. In this early era of motor transportation, electric vehicles were the future. However, when Ford developed the Model T, it was powered by a gasoline engine, and the rest is automotive history.

Today, EVs account for less than 1% of the vehicles on the road. But they are catching the imagination of the world, spawning a universal campaign to bring in a battery-powered revolution.

Carmakers are announcing higher production targets and governments are publishing plans to phase out sales of diesel and petrol-powered cars over the coming decades. Read More

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