Surge in hybrid owners on horizon

Published on Thursday 5 January 2012 12:42

Eco-warriors will be delighted with the news that hybrid cars are soon to undergo a surge in popularity, according to a new study from oil company Exxon Mobil.

The company released its annual energy report recently, which revealed that by 2040, low emission cars will make up half of all vehicles on the roads.

The news is likely to be particularly welcomed by environmental groups, many of whom have repeatedly expressed worries over the impact of the environment our over reliance on oil and petrol has. The idea that many car owners will switch to a hybrid, coupled with the increasingly advanced science behind fuel alternatives, means that it is expected that developed countries will be able to stabilise their energy demand over the coming 30 years, with countries such as the US expected to undergo no significant rises in oil consumption.

Aside from the impact on the environment, this news will also be received well by economists and financial experts the world over. Increased energy efficiency and lower fuel consumption is thought to be linked to financial growth and the economy. The report suggested that while worldwide-GDP would grow by a rate of 2.9 per cent a year until 2040, energy demand would only grow by a comparatively smaller 0.9 per cent.

However, there is some bad news. Exxon Mobil predicts that developing countries will not be able to stabilise their energy demand in the same way as more developed ones, due to the expense of funding research into fuel efficiency and in switching to a more sustainable method. Indeed, developing countries are expected to increase energy demand by 60 per cent between now and 2040, unless switches to a more sustainable method can be made quickly, easily and inexpensively.


Read more (in new window) at: www.northumberlandgazette.co.uk/community/surge_in_hybrid_owners_on_horizon_1_4115514/

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