• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Earth Wise

A look at our changing environment.

  • Home
  • About Earth Wise
  • Where to Listen
  • All Articles
  • Show Search
Hide Search
You are here: Home / Episode / A Battle For The Automobile Fuel Business

A Battle For The Automobile Fuel Business

August 20, 2018 By EarthWise Leave a Comment

https://earthwiseradio.org/wp-content/uploads/2018/07/EW-08-20-18-Battle-for-the-Automobile-Business.mp3

Energy giant BP predicts that electric vehicle sales will increase by an incredible 8,800 percent between now and 2040.  That creates a major business opportunity for oil companies as well as a real problem because demand for gasoline and diesel is destined to slow.

Gasoline and diesel sales have been a backbone for oil companies’ business since the turn of the 20th century.  But as drivers become more conscious about emissions and the environment and as more and more vehicles are electrified, demand for these fuels is expected to eventually diminish.

So oil companies are now looking at the electricity sector as a new business opportunity.  Providing vehicle charging points at service stations is a way to keep customers coming to retail outlets where they generate half of their revenue from the sale of coffee and snacks.  BP just purchased the electric vehicle company Chargemaster to add chargers to its retail stations.  But only a small percentage of car charging occurs while drivers are in transit.  The great majority of electric cars are plugged in overnight at home or in places where the cars are parked while sitting idle.

The larger opportunity is for power companies who can take advantage of a big surge in electricity demand.  Power companies are also vying for the market of providing drivers with charging infrastructure along highways or at rest stops, directly competing with the plans of the oil companies.

As the technology of personal transportation evolves, big oil finds itself increasingly in competition with power companies and there will be a scramble over the changing business of fueling automobiles.

**********

 

Web Links

Big Oil, Utilities are Lining Up for an Electric Vehicle War

Photo, posted February 24, 2018, courtesy of Shelby L. Bell via Flickr.

 

‘A Battle for Automobile Fuel Business’ from Earth Wise is a production of WAMC Northeast Public Radio.

Tagged With: automobile, bp, business, charging stations, Climate Change, demand, diesel, electric, electricity, emissions, environment, evs, fuel, gas, infrastructure, oil companies, opportunity, personal transportation, power companies, Technology, vehicles

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Recent Episodes

  •  Restoring Biocrusts | Earth Wise
  • Abandoned Oil Wells In The Gulf Of Mexico | Earth Wise
  • Carbon-Negative Concrete | Earth Wise
  • Shrinking Birds | Earth Wise
  • A New Deep-Sea Reef In The Galapagos | Earth Wise

WAMC Northeast Public Radio

WAMC/Northeast Public Radio is a regional public radio network serving parts of seven northeastern states (more...)

Copyright © 2023 ·