Future fuels the balance [oil alternatives]

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Future fuels the balance [oil alternatives]

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The outlook for the oil sheikhs of the Middle East or the gas oligarchs of Russia looks increasingly bleak. The value of their underground resources looks poised to fall away permanently as they struggle to diversify. Governments around the world, the UK among them, have committed to banning or severely curtailing the sale of petrol and diesel cars within a decade as they strive to bring their contribution to global carbon dioxide emissions down to net-zero by 2050. The road user is not alone in attempts to end oil's dominance of transport. In 2018, the International Maritime Organization (IMO) committed to halving the CO2 emissions from shipping by 2050 and started to tighten up rules to bring forward reductions over the coming decade. Airlines have joined the chorus. In September, British Airways and the 14 other members of the Oneworld Alliance pledged to cut carbon emissions to zero by the middle of the century. The question is what these new vehicles will use instead. For most European governments, the answer for most cars and light vans is electrification. The UK will allow petrol-hybrid vehicles to be sold until 2035 as long as their tailpipe emissions are more or less zero for most of the time. But the emphasis will be on installing more charging points and promoting battery-focused technologies.

Inspec keywords: petroleum industry; carbon compounds; gas industry; environmental economics; air pollution control

Other keywords: underground resources; diesel cars; tailpipe emissions; CO2 emissions; International Maritime Organization; IMO; global carbon dioxide emissions; petrol sale; British Airways; petrol-hybrid vehicles; battery-focused technologies; CO2; Russia gas oligarchs; oil dominance; Middle East; European governments; oil alternatives

Subjects: Pollution control; Mining, oil drilling and natural gas industries; Environmental issues; Economics

http://iet.metastore.ingenta.com/content/journals/10.1049/et.2021.0107
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