Can Big Oil Survive the Threat of Electric Vehicles?
As you may have heard, electric vehicles are catching on. It's to the point where several of the world's largest countries have announced tentative dates for when the last gas-powered vehicles will be sold on their respective turfs.
If you ask me, the writing is already on the wall for oil producers. It may just take another five to 10 years to dry.
Among others, Britain and France have drawn a line in the sand for 2040, while India has bested them by a decade, setting 2030 as its own deadline. Several other nations have targets set for how many EVs must be sold each year without announcing an outright ban on petroleum-fueled autos -- yet.
Source: Fool.com