close save
crop image
Tue, Dec 12, 2017 | Last Updated 3:36 pm IST

Menu &Sections


Buzz in transport Industry advanced from Electronic vehicles to Autonomous

Buzz in transport Industry advanced from Electronic vehicles to Autonomous
data-page-url= 'http://www.apherald.com'

Sources have stated that at the 22nd World Petroleum Congress in Istanbul, Turkey, oil & gas industry stares at a dark future. And the reason is not just low price of crude oil, which is currently trading at nearly $45 a barrel, less than a third of the price 10 years ago $145 in 2008.

According to sources a grim portends of the dark future became visible just a week before the meet when Volvo had currently announced it would phase out production of petrol-only cars from 2019 in favor of electric cars. Meanwhile when speaking at the Congress, Amin Nasser, the head of Saudi Aramco, said that oil and gas would remain central to the world's supply of energy for decades to come. Moreover he believed there was a widespread agreement that even as the world moved to greater use of renewable over fossil fuels, petroleum would continue to be the heart of the energy mix.

Buzz in transport Industry advanced from Electronic vehicles to Autonomous

But experts have started sounding the death knell for the oil industry and further Stanford economist Tony Seba, known as an energy futurist, says electric vehicles would devastate the global oil industry by 2030. Seba predicts a catastrophe for the oil industry and according to Seba, the rise of self-drive cars would bring down oil demand sharply which could reduce the price of oil to $25 a barrel within 10 years.

5/ 5 - (1 votes)
Add To Favourite
More from author
3 People responsible for my suicide - Comedian dies with a last message!!
TDP leaders defending their leader's decision to take 'valuable' inputs from  Rajamouli & his team
#VirushkaWEDDING - The Perfect Fairytale - Wishing the A Happily Everafter
Domestic sales of Passenger Vehicles grew up April to November 2017
Microsoft campus to get superb cricket field
YS Jagan completed his 31 days of Praja Sankalpa Yatra
Only these TWO INDIAN PLAYERS were invited for Kohli's wedding
Chandrababu Naidu taking steps to strengthen TDP in Telangana
Fenugreek seeds that could change your life in modern fast paced world
How to handle common Skin Problems in winter?
Can England Win the Third Test against Aussies in 'The Ashes'?
Less Focus on H1-B Visas says USA Ambassador - Will it impact on Indian companies?
Do you know the state which tops the rank among the sales for Electric Vehicles?
YS Jagan on his fourth day in Anantapur district
YSRCP spokesperson Roja criticized Pawan for his comments on dynasty Politics
Shocking News for those invested in Bitcoin & Cryptocurrencies from RBI
Pawan's fans and Janasena followers fuming against Roja for her verbal attack
Do Pawan Kalyan's hard hitting speech had a great impact?
YS Jagan's 400 Km mark touched at Gummepalli
Hike in car prices in India from 2018
Indian American couple contributed $1 Million for Indian Fund
Treatment to cure Cracked Heels
How to whiten your teeth naturally?
Importance of Tamil month Margazhi
Virat Kohli jumps 2 places to reach 2nd Rank in ICC Test Batting Ranks List
Chandrababu Naidu losing his confidence, Telugus would not forfeit their self-confidence and self -respect
About the author

Nanotechnology Degree Holder. Movie Geek. Crazy about comics and cartoons. Hardcore Cricket Lover. Photoshop Professional