"Shell CEO Says His Next Car Will Be Electric"

"When the boss of Europe’s biggest listed oil company says his next car will be electric, it says a lot about the future of fossil fuels.

Royal Dutch Shell Plc responded to the worst oil-price crash in a generation with its $54 billion takeover of BG Group Ltd., betting that demand for natural gas will rise as the world shifts to cleaner-burning fuels. Now Chief Executive Officer Ben Van Beurden says the next thing he’ll buy is a car that doesn’t depend on either oil or gas to run.

Van Beurden will switch from a diesel car to a plug-in Mercedes-Benz S500e in September, a company spokesman said. Chief Financial Officer Jessica Uhl already drives a BMW i3 electric car."

Jess Shankleman, Manus Cranny, and Rakteem Katakey report for Bloomberg July 27, 2017.


"Oil Demand Could Peak In About 10 Years, Says Shell CEO, Sooner Than Others Forecast" (CNBC)

"Shell Sees Future Of 'Lower Forever' Oil Prices" (MarketWatch)

Source: Bloomberg, 07/28/2017