I admire the optimism around here, but it may be misplaced I'm sure I've read an article that the Government proposes to kill off petrol by 2040, ten years after the ban of petrol car sales.
I predict that lower sales volumes of petrol will impact production economies of scale, add in the cost of decommissioning redundant oil fields plus potential changes in taxation plus most likely reducing allowable emissions levels at MOT time and of course the resultant prices at the pump will quickly see most ICE vehicles off the road. The pace of change will be quite dramatic once it starts snowballing.
Already it appears that houses that offer EV recharging or the potential for EV charging are already attracting a premium with a increasingly faster growing demand curve.
Why am I not so positive about the future of the petrol and the ICE, is basically we are already dragging our feet on climate change, as we approach key dates like 2030, 2040 and 2050 we will see an increasingly greater need to accelerate the rate of change to reverse the impact .We are already seeing Corporations like BHP dumping their petroleum portfolio, reducing number of new new oil field exploration licences being issued. Banks and Financial Institutions and Investors will increasingly follow a 'green portfolio' and not lend or invest in Carbon Industries. Throw in the change in public opinion as the school children of today become the voting classes of tomorrow and influence green policy more for any prospective Government.
Last edited by JohnHarris; 01/09/21 10:12 AM.
