25 June 2009 20:12 [Source: ICIS news]
ANTWERP (ICIS news)--World oil output could peak and begin a permanent decline as early as 2012-2015, a senior ?xml:namespace>
The possibility that “peak oil” is now imminent will spur the development of hybrid and electric vehicles, improved fuel efficiency, and the search for alternative fuels, Willy Tomboy, director of Toyota Motor Europe's Environmental Affairs Group said at the Tankbank Oil and Logistics conference.
“There is a lot of debate about that, but there are a lot of scientific publications that show that this is a possibility,” Tomboy told ICIS news.
“Of course fossil fuels will continue to be a source for many years to come for the car industry. Gasoline and diesel will be part of a portfolio of energy providers,” Tomboy added.
Hybrid vehicles, which use a battery-powered electric motor as well as an internal combustion engine, currently account for 5.3% of
Changes in engine technology and environmentally-driven initiatives such as the search for lighter plastics and the development of water-based paints will have a large impact on the chemicals, logistics and storage industries, Tomboy said.
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections