With the constant increase in gasoline prices and the rising demand for foreign oil, there is a great probability that petrol-powered cars will soon be facing extinction. Matter of fact, General Motors was earlier quoted as saying it believes global oil supply has peaked and a switch to electric cars is inevitable.At the opening of this year’s North American International Auto Show, GM Chairman and CEO Rick Wagoner said ethanol was an "important interim solution" to the world's demand for oil, until battery technology improved to give electric cars the same driving range as petrol-powered cars.
General Motors is absorbed in developing an electric car dubbed Chevy Volt. The plug-in hybrid is set to arrive in showrooms by 2010. But the arrival could be held in abeyance due to the delays in the development of the car’s battery technology.
Wagoner cited the United States Department of Energy statistics which show the world is consuming approximately 1000 barrels of oil every second of the day, and yet demand for oil may surge by 70% over the next 2 decades. Some experts believe the supply of oil peaked in 2006, according to Sydney Morning Herald.
According to a report, the remaining oil reserves are deeper below the Earth's surface. As such, they are more expensive to to mine and refine. "There is no doubt demand for oil is outpacing supply at a rapid pace, and has been for some time now," Wagoner said. "As a business necessity and an obligation to society we need to develop alternative sources of propulsion."
"So, are electrically driven vehicles the answer for the mid- and long-term? Yes, for sure. But… we need something else to significantly reduce our reliance on petroleum in the interim," he added.
The auto industry is slowly embracing the greener trend. It’s like having the necessary heater core replacement. And the effect will become more apparent in the near future. So far, petrol cars hold dominion over American roads.