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Oil further threatened as UK plans to ban petrol and diesel cars — like France, Germany, India

Oil further threatened as UK plans to ban petrol and diesel cars — like France, Germany, India
July 26
11:08 2017
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The United Kingdom is set to ban cars that run on diesel and petrol beginning from 2040, posing more threat to the future profitability of oil — Nigeria’s major revenue source and economic lifeline.

The British government was forced to take the measure following a court order mandating it to produce new plans to tackle air pollution, BBC reports.

Michael Gove, the country’s environment secretary, said ministers will unveil a £255 million fund to help councils tackle emissions from diesel vehicles.

According to the report, the ministers drafted clean air strategy plans favouring electric cars in May, with the final measures due by July 31.

“What we’re saying to local authorities is come up with an imaginative solution to these proposals,” Gove was quoted to have said.

The society of motor manufacturers and traders (SMMT), the country’s industry trade body, has said an outright ban would hurt the sector.

Mike Hawes, SMMT chief executive, was quoted as saying the current demand for alternatively fuelled vehicles is growing “but still at a very low level.

“The industry instead wants a positive approach which gives consumers incentives to purchase these cars. We could undermine the UK’s successful automotive sector if we don’t allow enough time for the industry to adjust”.

The development is coming twenty days after France revealed plans to ban such cars.

At the time, Nicolas Hulot, France’s ecology minister, had said the measure is part of a renewed commitment to the Paris climate deal.

Norway, dubbed the leader in the use of electric cars in Europe, also intends moving to electric-only vehicles by 2025, as does the Netherlands.

Germany and India have also proposed similar measures with a target of 2030.

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