In the past year, the Netherlands, Norway, the United Kingdom, and France have all laid out plans to phase out the internal-combustion engine by no later than 2040. The regulations hit home for European oil producers Shell and BP more than Exxon or Chevron, both U.S.-based companies.
Shell is predicting global oil demand could peak by 2020. This is consistent with most studies predicting it will peak sometime within the next 5-15 years.
Read more: Green Car Reports