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MOSL: OIL & GAS (THEMATIC)-The electric avalanche and ICEs; Not a medium-term shock for the OMCs/CGDs

Oil & GAS (Thematic): The electric avalanche and ICEs; Not a medium-term shock for the OMCs/CGDs

 

• After being sent into oblivion almost a century ago, electric vehicles (EVs) finally seem more a reality than fiction.
• China, Norway and a few other countries have taken meaningful strides in raising the penetration of EVs. Some other countries have committed to reducing the usage of fossil auto fuels in the coming years.
• This report looks at various aspects of EVs and the impact on the Indian Oil & Gas industry, going forward.

 Necessity is the mother of invention!

• Transportation accounts for as much as 30% of total greenhouse gases (GHGs) in the developed countries; hence the emphasis on greener options. While the share is just 6.5% in India, urban areas are worse off. Transportation accounts for 83% of CO, 36% of NOx, 20% of PM2.5 and 9% of PM10 in Delhi.
• Similarly, transportation accounts for just 7.5% of GHGs in China. However, urban areas have been battling severe pollution, and EVs with zero emissions, offer the best alternative.
• China has taken giant strides in the penetration of EVs, with almost 1m BEVs (battery EVs) and PHEVs (plug-in hybrid EVs) plying, largely led by government subsidies. In other developments, France and Britain have already banned the sale of petrol and diesel cars by 2040 while a few others including Norway and Germany are mulling similar bans.