Electric threat

The oil industry needs to start taking the rise of alternative vehicles seriously

Oil and its products have given the world more than a century of easy mobility. Gasoline and diesel keep ambulances running and the plane you take on holiday needs jet fuel. They enable global trade, on land and at sea. More than any other commodity, oil allows for wealth creation. Countries with less crude, and therefore less mobility, are poorer. Oil helps yank people out of poverty. But its dominant role in global transport—like its function in power generation in previous decades—is coming under threat. It's starting with cars. As our survey this month suggests, it's time for the oil industry to take electric vehicles (EVs) seriously. They are a big deal—for the oil industry and the glob