Low-carbon polices needed to push electric cars New policies to promote low-carbon transport such as electric vehicles would curb future oil price rises and could lower global demand for crude by 11 million b/d by 2030, according to a new study commissioned by environmental groups. As a result of further moves to cut greenhouse gas emissions, lower demand for oil would cut global spending on crude by $330 billion each year between 2020 and 2030, according to research led by UK-based Cambridge Econometrics. The report warns that the era of “ultra-cheap oil” will be limited, with oil prices potentially rising to $130/b by 2050 without further action to tackle climate change. Article Continues below… Every Monday, Capitol Hill newshounds Herman Wang and Brian Scheid analyze, dissect and […]