As the role of the electric vehicle in the future is brought into the fore – many are questioning what impact this could have on oil demand going forward and how it will affect oil markets and the role of tank terminals. Jasmin McDermott reports
The rise of the electric vehicle has delivered some startling headlines in recent months.
The UK is the latest in a string of countries to acknowledge the growing popularity of EVs (electric vehicles) by pledging to ban the sale of all diesel and petrol cars and vans from 2040.
It is part of the British government’s clean air plan, which is needed due to the ‘unnecessary and avoidable impact’ that poor air quality has on people’s health.
It follows a similar pledge by France, driven by the country’s plan to meet its targets under the Paris climate accord.
Likewise, India is also planning to phase out all diesel and petrol cars, however it aims to do this eight years earlier, by 2032. Global energy driver China is also embr...