Proven oil reserves are growing, but at today s rate of consumption figures suggest that we will run out of oil before 2050 unless new sources or alternatives are brought on stream, or consumption is reduced. It is viewed that these new sources of oil will be found, but just in case, major corporations are also investing in alternatives and ways of reducing consumption.
One response by the automotive sector has been the development of alternative fuel vehicles based on electricity – EVs and HEVs are now available from all major OEMs. But electricity alone cannot meet all the world s up-coming energy requirements for transport. Indeed a consensus is emerging among leading automotive businesses that electric vehicles alone can never fulfil the everyday driver’s requirement for all types of journeys. Liquid fuel of some kind, or a sustainable alternative, will be required for long-range sustainable mobility.