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【Summary】The fossil fuel giant recently stated that oil production peaked in 2019 and a gradual decline every year is now expected. With oil quickly going out the door, Shell now becomes the latest company to get swept up in the EV boom. Original author: Vineeth Joel Patel
The electric-vehicle boom is upon us. If you need any more proof of that, just look at what giant fossil fuel companies like Shell are doing. The company recently stated that oil production and carbon emissions have peaked and now it s looking to move away from fossil fuels. Peak oil production, apparently, happened in 2019 and now it s on track to decrease 1-2 percent each year. What is Shell, a giant fossil fuel company, looking to do now? Unbelievably, it s pivoting into the world of electric vehicles and renewable energy.