Study – All fossil-fuel vehicles will vanish in 8 years in twin ‘death spiral’ for big oil and big autos

“All fossil-fuel vehicles will vanish in 8 years in twin ‘death spiral’ for big oil and big autos, says study that’s shocking the industries. This speedy revolution, a Stanford economist says, will be driven by technology, not climate policies — and while his timing may be off a few years, there is little doubt about the direction..No more petrol or diesel cars, buses, or trucks will be sold anywhere in the world within eight years. The entire market for land transport will switch to electrification, leading to a collapse of oil prices and the demise of the petroleum industry as we have known it for a century. This is the futuristic forecast by Stanford University economist Tony Seba. His report, with the deceptively bland title Rethinking Transportation 2020-2030, has gone viral in green circles and is causing spasms of anxiety in the established industries.”

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