EVs to account for majority of new car sales by 2040

Electric vehicles (EVs) will make up 54% of new car sales globally by 2040. According to Bloomberg New Energy Finance (BNEF), they will also account for 33% of all light-duty vehicles during the same period. Its analysis draws on likely future reductions in price for lithium-ion batteries and prospects for other cost components in EVs […]

‘Record high’ use of petroleum globally in 2012

The world’s consumption of petroleum products reached a “record high” last year despite a decline in usage in North America and Europe. The Energy Information Administration (EIA) revealed 88.9 million barrels of gas, diesel, jet fuel, heating oil and other petroleum products were used per day in 2012 as growth in Asia outpaced European and […]