Don't rely on trucking to prop up future oil demand
By 2050, oil demand could fall by the combined current production of Russia and Canada, if the world gets serious about cutting emissions from the trucking industry
Volvo's decision to launch only hybrid-or electric-car models after 2019 is just the latest sign that the passenger vehicle market is inching away from the internal combustion engine as a driving force. Trucking, however, has been regarded as safe territory for the oil industry for years to come, given the range and power limitations of electric propulsion—but now this assumption is being questioned too. It's easy to think of trucking as a much smaller market for the oil industry than cars in terms of oil consumption, given the relative numbers of vehicles on the road. But, as the International Energy Agency (IEA) points out in a new report, the greater consumption and miles driven by trucks
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