Namrata Sinha   

Featured Blogger (as per SFC’s Internal Circulation)

Today, the popularity of electric cars, based on a myriad of benefits they provide, seamlessly projects stiff competition for fuel-oriented vehicles.

With the burgeoning launch of various electric car models, the dream of a world devoid of petrol cars no longer seems too far-fetched. According to a study published in the journal “Nature Sustainability”– ‘In 2050, every second car on the streets will be electric’.

Electric cars function by plugging into a charge point and receiving electricity from the grid. These cars accelerate faster than vehicles with traditional fuel engines – making them more convenient to drive. They’re emission-free and environment-friendly. The advent of electric cars also anchors a revolutionary change in paradigms of petrol usage in future.

According to an ‘All India Study’ conducted by M/s Nielsen (India) , in case of petrol, 99.6% is consumed in the transport sector. Of this, cars use 34.33%. Petrol is a non-renewable, exhaustible natural resource. Petrol cars emit pollutants in the form of harmful smoke, that causes air pollution. It takes millions of years for this oil to form, and when it is extracted and consumed, there is no way for us to replace it.

India is the third-biggest oil importer after America and China and its oil reserves mainly survive on imports. Favourable plans and policies have been developed by the Indian government like National Electric Mobility Mission Plan (NEMMP), and Faster Adoption and Manufacturing of (Hybrid) to bolster the transition towards the EV ambition of India. Campaign- ‘Switch Delhi’ has been unleashed to promote and incentivise electric vehicles in Delhi- one of the cities with the worst air quality.

Crude oil is one of the most precious commodities of the contemporary world. It is also regarded as the most traded resource ever. Known as black gold for the value it holds, crude oil is processed into petrol, diesel and a range of petrochemicals with multiple uses. According to current estimates, 79.4% of the world’s proven oil reserves are located in OPEC Countries, with the bulk of OPEC (Organization of Petroleum Exporting Countries) oil reserves in the Middle East, amounting to 64.5% of the OPEC total.

Race for export and production of oil in the Middle East, in the past, has been one of the reasons leading to changing economic and geopolitical power dynamics. Iran–Iraq War (1980–1988), Gulf War (1990–1991), Kuwaiti oil spills, and Iraq War (2003–2011)- have all been fought with the rationale in tandem with control of oil. The course of development and high GDP, drawn by high returns from oil exports has made countries like- Saudi Arabia economically powerful. Due to it providing higher financial contribution, Saudi Arabia leads ahead of India in voting power in the World bank’s International Development Council, which offers concessional loans and grants to the world’s poorest developing countries. If electric cars upset the demand for petrol, the economy of middle east countries will hit a staggering limp. Additionally, the low demand shall lower the cost of oil, which will not bode well for their economy.

The advent of electric cars will also pave the path for technology-rich, innovation-marked countries like- China and Japan to dominate the automobile-market on a very large scale. Being a nation of immense potential, India shall also expect a surge in the upliftment of its contribution in the manufacturing sector (electric cars).

With reduced usage of petrol in the transport sector, oil reserves of countries like- America may get shifted for utilisation in other areas, like- agriculture and aviation.

The chief advantage of petrol cars is -they are generally cheaper to purchase and maintain than electric or hybrid cars. They also are better when it comes to speed. Electric cars require to be charged for a fairly long time, sometimes overnight to get the power, one needs for a journey. In fact, most standard electric cars only provide a range of 80 to 100 miles, before they need recharging. Due to their lower costs, petrol cars have increased common people’s access to a self-reliant mode of conveyance.

Overall, electric cars augment in the attainment of sustainability, and to an extent, will reduce the impact of global warming, however, they require better technical sophistication for expanding their market base.  

1,602 thoughts on “Future of Petrol after Electric Cars: Geopolitical Changes it will result in”

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