Why Oil Investors Could Be In For Big Shock In Coming 5–10 Years - CleanTechnica

The article from CleanTechnica highlights the looming disruption facing oil investors due to the accelerating transition to electric vehicles (EVs), particularly emphasizing trends in China, the world’s largest auto market. While the oil industry remains robust today, producing oil at high levels, the shift to EVs is progressing steadily and may appear slow until it reaches a tipping point, after which change will be rapid and profound. The article notes that even in countries with high EV sales, such as Norway, it takes years for the vehicle fleet to become predominantly electric, which explains why the transition might seem gradual now. However, China’s EV sales are surging, with projections suggesting that by 2028, up to 90% of new vehicle sales could be plug-in hybrids or battery electric vehicles, signaling a major shift away from internal combustion engine (ICE) vehicles. The article also points out that fossil-fueled vehicles are increasingly being sold at steep discounts—averaging 23%—yet still losing market share