Consulting firm McKinsey put a note out on Thursday calling attention to “three surprising resource implications from the rise of electric vehicles”.
Number one is that oil & gas investors can sleep well for at least the next decade as the impact of the move away from internal combustion engines will only modestly impact demand for fossil fuels.
In fact, demand for natural gas fired power stations – all those EVs need to be charged after all – will increase by 20% if half the cars on US roads were electric. Even coal would get a bump from EVs says McKinsey.
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