Electric cars are coming fast — and that’s not just the opinion of carmakers anymore. Total SA, one of the world’s biggest oil producers, is now saying EVs may constitute almost a third of new-car sales by the end of the next decade.
The surge in battery powered vehicles will cause demand for oil-based fuels to peak in the 2030s, Total Chief Energy Economist Joel Couse said at Bloomberg New Energy Finance’s conference in New York on Tuesday.
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Just in case anyone thought Tesla Motors chief Elon Musk couldn’t get more ink in these pages, he appears to be at the center of a trend that can complement his electric-vehicle development. Musk’s SolarCity solar-panel distributor competes in a green-energy sector that’s now said to be growing far faster than old-line natural-resource sectors like oil and coal. #solarenergy
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