Mass adoption of electric cars and renewable energy could significantly decrease global consumption of fossil fuels. But does the established energy industry view these new developments as a threat? In a recent report, ExxonMobil said coal could continue to provide the majority of the world’s electricity-generation capacity in 2040, and that electric cars would only make up around 10 percent of the U.S. new-car market by that time. DON’T MISS: Which oil companies invest in
Big energy hugely underestimates electric cars, renewable power
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