January 7, 2021
Six electric vehicle opportunities for oil and gas players
Each year, the cost parity of electric vehicles (EVs) compared with internal combustion engine vehicles grows closer. EVs could entirely offset annual marginal growth in oil demand as early as 2027, with oil demand reaching its peak by the late 2020s, the Carbon Tracker Initiative estimates. Amid that transition, the COVID-19 pandemic has slowed global manufacturing activity and travel, leading to sharp drops in demand and prices, making the timing right for oil and gas to leverage its built-in strengths and capitalize on the growing market for EVs. An EY article provides details.