Some say the traditional petrol-driven internal combustion engine is on the way out.
It would seem inevitable, given that the alternative – the electric engine – is less harmful to the environment at the point of use.
The implications of the rise of the electric engine for the global oil business is beyond the scope of this article, but oil will probably continue to be important going forward because of its role in powering so many other sectors of industry.
But as far as the demands on the oil industry that road-going vehicles will make, it seems there is a definite downward trend emerging.
Perhaps the most significant recent development is the German government’s decision to ban the combustion engine effective 2030. [Read more…] about Electric cars: Germany to ban petrol engines from 2030