The foreseen increase in global demand for oil by trucks by 2050 may lead to spouting of carbon dioxide emissions estimated at nearly 900 million tons. This was noted by the International Energy Agency (IEA), even as the mad dash to roll out Electric Cars across the world continues.
Trucks will continue to drive growth in transport fuel consumption, the IEA report "The Future of Trucks: Implications for energy and the environment" noted, but there are things that can be done to curb it. Meantime, the expected rise in electric vehicles is not about to sink Oil Demand in the coming years.
The first wave of electric vehicles wending their way into the market may lessen only about 20 per cent of the petroleum usage.
Even with electric cars, no steep decline yet for oil demand
Business analysts echo that while Electric car sales show much potential for development and growth, it is not about to lead to a steep decline in global demand for gasoline just yet. Trucks and ships will continue to use fossil fuels, and the countries leading the way in vehicle oil demand are the US, China, and members of the European Union, with India trailing as a major contributor.
The IEA had noted that thus far, only the US, Canada, Japan, and China have fuel efficiency standards for heavy trucks. They comprise only one-tenth of about 40 countries with existing policies/rules for passenger vehicles.
Recent car innovations from leading auto makers have led to soaring public enthusiasm for plug-ins and electric-powered vehicles that do not spew harmful gases. Touted as a way to counteract climate change, adopting the EV strategy is aligned with what is stipulated in the Paris climate agreement. The IEA had estimated that EVs must reach at least 40 percent of overall sales of passenger vehicles by 2040 to be able to counteract global warming.
Electric vehicle offerings underway
Besides Tesla Motors, among the vehicle makers that have unveiled prototypes of electric cars are Mercedes-Benz parent company Daimler, Nissan Motor, Toyota Motor Corporation, Audi, to name some.
Mitsubishi Motors has also been at the forefront of developing electric vehicle technologies that can come at an affordable price.
Volvo, for its part, has broken the record for a car company noted for producing internal combustion engines. Addressing rising customer demands, Volvo’s ranking executives have announced that in a couple of years, all new Volvo vehicles will have some form of electric propulsion.
