After Elon Musk's Tesla popularised electric vehicles (EVs), now is the turn for planes to go electric. By 2030, 95% of people won’t own private cars which would wipe off the automobile industry, he says.Electric planes are actually the third disruption in oil industry, After electric vehicles, the buzz grew around autonomous vehicles. Self-driven vehicles are going to deliver another big blow to the oil industry as they will reduce personal ownership of cars. According to Seba, the global oil demand will peak at 100 million barrels per day by 2020, dropping to 70 million barrels per day by 2030. India's passenger vehicle market is expected to hit 10 million units by 2020.Imagine such a big industry shunning oil and going electric.The end of oil will tweak the global geopolitical equations too.

Source: Economic Times October 06, 2017 10:15 UTC