Future of oil under threat as France plans to ban petrol and diesel cars
France is set to ban the sale of any car that runs on petrol or diesel by 2040, which brings more uncertainty to the future of oil and oil prices.
Nicolas Hulot, France ecology minister, announced the planned ban on fossil fuel vehicles as part of a renewed commitment to the Paris climate deal.
According to BBC, Hulot said France planned to become carbon neutral by 2050.
Hybrid cars make up about 3.5% of the French market, with pure electric vehicles accounting for just 1.2%.
The drop in demand for diesel and petrol driven cars will go a long way in reducing the demand for oil, and in turn drive a decline in global crude oil prices.
Hulot, a veteran environmental campaigner, was appointed by new French President Emmanuel Macron, who in his capacity as president openly criticised US environmental policy, urging Donald Trump to “make our planet great again”.
“The fight against climate change cannot depend on the result of elections in one country of another. When a country signs an international agreement it has to fulfil its commitments,” Macron said.
“There will be new administrations. I’m pretty sure President Trump hasn’t read the articles of this treaty. There is nothing to renegotiate here”
President Trump’s decision to withdraw from the Paris agreement in June was explicitly named as a factor in France’s new vehicle plan.
“France has decided to become carbon neutral by 2050 following the US decision,” Hulot said, adding that the government would have to make investments to meet that target.
Earlier this week, car manufacturer Volvo said all of its cars would be at least partly electric from 2019, an announcement referenced by Hulot.
He said he believes French car manufacturers – including brands such as Peugeot-Citreon and Renault – would meet the challenge, although he acknowledged it would be difficult.
Norway, which is the leader in the use of electric cars in Europe, wants to move to electric-only vehicles by 2025, as does the Netherlands. Both Germany and India have proposed similar measures with a target of 2030.
Banning Petroleum or Oil Based cars to me is a very good idea as Technology is quite advancing and there is need to focus on the latest on the latest tech and that is Electric Cars.
Although it’s a good idea, yet it has it’s own effects. For example, some countries depend on these products for survival and banning petroleum based cars will shake their economy.
Globally, 95% of electric cars are sold in only 10 countries: China, the U.S., Japan, Canada, Norway, the U.K., France, Germany, the Netherlands and Sweden.So that would hash developing countries
I strongly agree with you
Pure truth
Yes I agree with iseac but on a serious not it has a bad effect on our natural environment
This is not a bad idea. Personally, I think this will reduce environmental pollution and ozone layer. However, the availability of these products to underdeveloped countries will be affected tremendously.
And I Think the effect is what we should be more concerned about now.
Focusing on electric cars is okay. But as Isaac an Saheed stated, it will be a disaster for underdeveloped countries that depend on this products to survive.
France again?
Nice idea as they would no longer be environmental Pollution
Focusing on electric cars is okay. But it will be a disaster for underdeveloped countries that depend on this products to survive.
Fossil fuel is not environmental friendly and causes depletion of ozone layer. This development is welcome since the world is long overdue for a cleaner and environmental friendly energy.
Globally, 95% of electric cars are sold in only 10 countries: China, the U.S., Japan, Canada, Norway, the U.K., France, Germany, the Netherlands and Sweden.So that would hash developing countries.
Nice idea as they would no longer be environmental Pollution And I Think the effect is what we should be more concerned about now.
I can’t to experience this aspect of technological revolution.
Best idea really. Glad they could think this way
this would be a great sight especially in underdeveloped countries
I think the effect should be our priority now
Globally, 95% of electric cars are sold in only 10 countries: China, the U.S., Japan, Canada, Norway, the U.K., France, Germany, the Netherlands and Sweden.So that would hash developing countries.
I think so
let them ban Petroleum cars, it destroys our ecosystem, in the next 200 years the planet won’t be a accommodating
Thanks for sharing
Thank you very much for sharing this
I don’t think this is a good idea because this will affect other countries negatively.
This is not a GOOD idea. Personally, I think this will reduce environmental pollution and ozone layer. However, the availability of these products to underdeveloped countries will be affected tremendously.
Banning Petroleum or Oil Based cars to me is a very good idea though it might have it own effects
This is one of the major ways of making our environments green and free from air pollutions which are always dangerous to our health, affect plants and animal growths.
hmmmm
wont it affect other countries?
There’s God
It is not neccessary, you cannot copere petrol/diesel enginees to electrical cars, the ruggedity is incomparable
I strongly agree with you
i think it might affect the country
I thinks I’d affect the country’s GDP negatively
Hope this will in no way affect the supply of oil…God help us
thinks I’d affect the country’s GDP negatively which is not too good for the economy.
I HOPE IT WONT AFFECT NIGERIA
I hope everything gets better as soon as possible
Same here. I pray it doesn’t affect Nigeria
This France ban on petrol might not have any negative effect on Africa
i really hope this act will not affect Nigeria
chaii….
Nigeria which way
Focusing on electric cars is okay. But it will be a disaster for underdeveloped countries that depend on this products to survive.
Although it’s a good idea, yet it has it’s own effects. For example, some countries depend on these products for survival and banning petroleum based cars will shake their economy..
This will really bring some balance to the Eco system
this will badly affect africa
VERY BAD
Aw, this was an exceptionally good post. Taking a few minutes and actual effort to produce a really good article… but what can I say… I procrastinate a lot and don’t seem to get anything done.
this is definitely bad, in fact the effect are already been felt
This will definitely have bad toll on africa
nice
Yeah agreed
this will affect nigerians badly