NewsOil & GasProvincial
Electric Vehicles Could Bring a New Drop in Oil Demand
Source: Thomson Reuters, cbc.ca, June 02, 2020
Due to the pandemic, Suncor has curtailed output and cut its dividend by more than half.
The shift to electric vehicles and other low-carbon technologies could disrupt crude oil demand on a similar scale to the coronavirus pandemic, Suncor Energy Inc’s chief executive said on Monday.
The comments are a stark prediction in an industry that frequently downplays the impact of electrification and points to forecasts of rising global oil demand to justify new investment and pipeline expansions.
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