Read time: 4 mins
By Paul Brown for the Climate News Network
The days of oil as a fuel for cars, whether petrol or diesel, are numbered − because the economies offered by wind and solar energy and other cheap renewables, combined with electric vehicles, are irresistible, a French bank says.
BNP Paribas Asset Management calculates that oil majors like Exxon, BP and Shell will have to produce petrol from oil at $10 a barrel (the current price is $58) to compete with electricity on price, while for diesel, it says, oil can cost no more than $19 a barrel.
