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Future of oil under threat as France plans to ban petrol and diesel cars

Future of oil under threat as France plans to ban petrol and diesel cars
July 06
20:23 2017
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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.

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39 Comments

  1. Gotv Subscription
    Gotv Subscription July 08, 02:18

    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.

    Reply to this comment
  2. Flash Isaac
    Flash Isaac October 08, 22:51

    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.

    Reply to this comment
  3. Mercy bless
    Mercy bless December 02, 17:57

    Yes I agree with iseac but on a serious not it has a bad effect on our natural environment

    Reply to this comment
  4. Soneye Saheed
    Soneye Saheed January 31, 15:46

    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.

    Reply to this comment
  5. Dave
    Dave March 20, 12:02

    And I Think the effect is what we should be more concerned about now.

    Reply to this comment
  6. Amas Dave
    Amas Dave March 23, 16:23

    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.

    Reply to this comment
  7. Jamb
    Jamb May 28, 20:32

    Nice idea as they would no longer be environmental Pollution

    Reply to this comment
  8. Danny Dan
    Danny Dan June 24, 19:39

    Focusing on electric cars is okay. But it will be a disaster for underdeveloped countries that depend on this products to survive.

    Reply to this comment
  9. Olajire Bolarinwa
    Olajire Bolarinwa July 16, 19:19

    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.

    Reply to this comment
  10. School News
    School News July 25, 14:15

    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.

    Reply to this comment
  11. Paschal
    Paschal August 06, 21:15

    Nice idea as they would no longer be environmental Pollution And I Think the effect is what we should be more concerned about now.

    Reply to this comment
  12. Education
    Education August 11, 22:40

    I can’t to experience this aspect of technological revolution.

    Reply to this comment
  13. Recruitment villa
    Recruitment villa August 23, 21:50

    Best idea really. Glad they could think this way

    Reply to this comment
  14. Jobber
    Jobber August 23, 21:52

    this would be a great sight especially in underdeveloped countries

    Reply to this comment
  15. Ifeoluwa
    Ifeoluwa September 03, 01:25

    I think the effect should be our priority now

    Reply to this comment
  16. Wale Niyi
    Wale Niyi September 10, 15:35

    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.

    Reply to this comment
  17. Kelly best
    Kelly best September 27, 10:58

    I think so

    Reply to this comment
  18. ikechukwu
    ikechukwu October 09, 20:05

    let them ban Petroleum cars, it destroys our ecosystem, in the next 200 years the planet won’t be a accommodating

    Reply to this comment
  19. Dearmicky
    Dearmicky October 16, 10:57

    Thanks for sharing

    Reply to this comment
  20. Naija school
    Naija school October 16, 15:33

    Thank you very much for sharing this

    Reply to this comment
  21. Olamide
    Olamide December 18, 17:23

    I don’t think this is a good idea because this will affect other countries negatively.

    Reply to this comment
  22. Mattew Adeboye33
    Mattew Adeboye33 January 15, 18:02

    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.

    Reply to this comment
  23. Chinweizu Imo
    Chinweizu Imo February 17, 00:37

    Banning Petroleum or Oil Based cars to me is a very good idea though it might have it own effects

    Reply to this comment
  24. Charles Ifemeluma
    Charles Ifemeluma March 01, 09:47

    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.

    Reply to this comment
  25. Nsisong Ene
    Nsisong Ene March 15, 00:07

    hmmmm
    wont it affect other countries?

    Reply to this comment
  26. myjobplate
    myjobplate March 29, 16:59

    There’s God

    Reply to this comment
  27. bobo
    bobo April 01, 02:58

    It is not neccessary, you cannot copere petrol/diesel enginees to electrical cars, the ruggedity is incomparable

    Reply to this comment
  28. Hezekiah Ailunia
    Hezekiah Ailunia April 02, 19:24

    I strongly agree with you

    Reply to this comment
  29. emma
    emma May 14, 17:53

    i think it might affect the country

    Reply to this comment
  30. Emmanuel Nonye
    Emmanuel Nonye May 30, 09:30

    I thinks I’d affect the country’s GDP negatively

    Reply to this comment
  31. Michael
    Michael July 02, 13:02

    thinks I’d affect the country’s GDP negatively which is not too good for the economy.

    Reply to this comment
  32. Frank
    Frank July 03, 13:40

    I HOPE IT WONT AFFECT NIGERIA

    Reply to this comment
  33. John
    John July 21, 11:14

    I hope everything gets better as soon as possible

    Reply to this comment
  34. Blessed
    Blessed August 02, 23:02

    This France ban on petrol might not have any negative effect on Africa

    Reply to this comment
  35. Tunde
    Tunde August 07, 00:00

    i really hope this act will not affect Nigeria

    Reply to this comment

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