Once upon a time, all new car sales being electric by 2040 was a bold prediction. In fact, many countries still have a much more pessimistic target. However, anybody following the sector somewhat closely knows
that even not-so-aggressive automakers are aiming to be fully electric by 2035 or sooner. Tesla’s Elon Musk has also estimated the whole market will go electric by about that time, andThere are still people in the industry who think new gas and diesel cars will still be sold in 2040 or 2050, but the number of people who think that is dwindling.
Another possibility is that Darren Woods is indeed providing their best available forecast and speaking out about it now because he knows everyone else knows that the oil industry’s days of ever-rising demand and production are ending, and that he’s simply trying to guide or shift the narrative about what that means for oil companies like his little baby Exxon.
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