In a surprising turn of events, the top three oil PSUs have recently announced plans to open a staggering 78,493 new petrol pumps across the country. With an existing fleet of 64,624 pumps, this significant surge indicates a concerted effort to ramp up petrol and diesel sales nationwide. The sudden panic gripping these oil companies can be traced back to the emerging news that the demand for traditional fuel may witness a dramatic decline in the coming decades. In light of this unsettling prospect, the oil PSUs seem to have taken proactive measures to boost sales and secure their position in an uncertain future.
Merely weeks ago, Ola Electric made waves by declaring sales of its electric scooters amounting to over Rs 1,100 crores in a mere two days. This unprecedented success can be attributed to the overwhelming demand for electric vehicles (EVs). The market already boasts a variety of electric four-wheelers and two-wheelers, with EV sales currently constituting approximately 7.2 percent of total vehicle sales. Experts predict that by 2025, one-fifth of all new cars sold globally will be electric, a figure that is expected to climb to 40 percent by 2030. Remarkably, by 2040, virtually every new car sold worldwide will be powered by electricity. Furthermore, scientists are diligently working to address the limitations of electric vehicles, such as limited range and extended charging times, paving the way for a seamless transition to a greener future.
Many countries have set ambitious deadlines to halt the manufacturing of petrol and diesel vehicles, with targets ranging from 2025 to 2040. Notably, India has mandated a ban on the sale of new petrol and diesel cars starting from 2030—a mere seven years away. Considering India's status as the world's third-largest crude oil importer, with 84 percent of its oil requirements being imported at a cost exceeding $100 billion annually, this transition holds tremendous significance. It is worth noting that the transportation sector alone consumes more than 60 percent of the country's total oil consumption.
The extensive use of fossil fuels, the primary driver of global warming, has brought us to a critical juncture. Greenhouse gas emissions resulting from burning fossil fuels in industries, transportation, and households have contributed to the hottest decade on record. The devastating consequences of climate change are evident in the form of super cyclones, heatwaves, and other extreme weather events experienced worldwide. However, by embracing electric vehicles, we can reduce greenhouse gas emissions by nearly 50 percent, effectively safeguarding our planet's fragile environment.
While oil will still be required for industries, power generation, maritime transport, aviation, and rail networks, the widespread adoption of electric vehicles will significantly curtail pollution in our cities and towns—the primary culprits responsible for air contamination. By diminishing our reliance on fossil fuels, such as oil, gas, and coal, we can pave the way for a cleaner, fresher Earth, revitalizing our ailing planet.
The urgency to act cannot be overstated. Failure to curtail oil consumption will render our world inhospitable for future generations. The sobering quote that follows encapsulates the gravity of the global warming threat:
"Only after the last tree has died,
And the last river has been poisoned,
And the last fish has been caught,
Will we realize that we cannot eat money!"
The time for change is now. Let us embrace the rise of electric vehicles, mitigate the effects of climate change, and ensure a sustainable future for generations to come. Together, we can forge a path towards a brighter and greener tomorrow.