The reality is that the switch to fully electric cars has slowed not only in the UK but just about everywhere. Its chairman, Akio Toyoda, said last month the firm thought pure electric cars would top out at 30 per cent in the market. For a start, a slower switch away from oil and gas helps the American economy. The US has been the world's largest oil producer since 2018 and has been increasing its dominance. However, if that choice cuts the investment by Western companies in oil and gas exploration, it boosts the relative position of OPEC and other non-Western suppliers.

Source: Daily Mail February 11, 2024 10:33 UTC