Tesla started the production line for the Model 3 two weeks earlier than planned.
Electric cars are becoming more and more popular these days, especially due to the fact that Tesla has started the production line for the Model 3 on Friday.
At the same time, the Swedish carmaker Volvo announced that the year 2018 was the last year for the production and sale of only petrol and diesel based cars because starting with 2019 the company will only sell battery-based vehicles (electric cars and plug-in hybrids).
Researchers at the Imperial College London consider that a wide spread of the green vehicles (electric cars and plug-in hybrids) on roads could generate a drop in oil demand up to 2 million barrels of oil per day as early as 2025.
Another blow to the oil industry is generated by the fact that electric cars are becoming more affordable these days, mostly due to the drop in battery prices.
2016 was the year that announced the start of the green revolution in the auto sector because the investments made in electric vehicles have exceeded the investments made in the oil and gas sector.
The global demand for oil will continue to grow, but not at the same rate as before once the electric and hybrid vehicles will populate the roads.
Oil will still be required for the transportation sector to power the trucks, ships and jets, and also in the chemical industry.
Skeptics consider that the demand for oil will not drop by 2025, especially because electric cars have no chance (at least in the near future) to replace gasoline and diesel based vehicles globally, not even at the country level, so they think that the demand for oil will grow in the short term, and will level out only by the middle of 2030.
On the other side, the big oil companies consider that the demand for gasoline will drop, but not due to electric cars.
A more important factor (than electric cars) that affects the gasoline demand is represented by the introduction of the fuel efficiency standards.
With or without the oil sector, the revolution of the transportation sector has already begun, and electric cars are leading the way toward the green future that will follow.