There are 37.5 million vehicles licensed for use on roads in Great Britain, and petrol and diesel-powered vehicles account for 99% of the UK’s passenger car fleet, according to the UK Petroleum Industry Association. Multiply this across Europe and the consequences of this move are huge and complex.
The phase out of liquid fuels and pivot toward electric vehicles and alternative transport methods has raised a string of pressing questions for the fuel, petrochemical and energy industries.
What are the rules? How will they be introduced? What are the stumbling blocks? And who does this affect?
From the top of the chain, the oil sector will be impacted, right through to consumers, and every other sector in between – petrol retailers to traders, distributors, fuel refiners and car manufacturers.
How will the transport sector handle the transition to non-fuel cars, and does this leapfrog the need for biofuels in Europe or make them even more important?
Also at stake is the future existence of the refineries that produce gasoline and diesel, and what this would means for the petrochemicals produced there.
Additionally, there is the question of whether there will be enough electricity to power this shift in energy consumption, and finally whether governments are willing to put regulatory and financial support behind it.
Our market reporters are gathering the key responses to this crucial development. We've made a selection of our latest news and insights free-to-access below.
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ICIS editors Samantha Wright, Cuckoo James, Vicky Ellis and Jamie Stewart speak to Sarah Trinder about recent announcements from European countries that aim to ban conventional petrol and diesel vehicles post-2040.Listen now
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