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Thursday, 10 August 2017

Oil industry has plenty of time before its own ‘iPhone moment’ | Arab News

Oil industry has plenty of time before its own ‘iPhone moment’ | Arab News:

"The traditional motor industry, especially in Germany, has had a bad press of late. Just in the past week or so, we have read about allegations of cartels, the threat from the next generation of electric vehicles made by the likes of Tesla, the ongoing investigations into cheating on emissions by diesel manufacturers, and even a claim that the industry faces its very own “iPhone moment,” when newfangled technology will drive the old motor dinosaurs to extinction. To cap it all, the governments of Britain and France announced that they would ban petrol and diesel cars completely by 2040, mainly on environmental grounds. Although the Arabian Gulf might regard this as somebody else’s problem — there is little in the way of a motor manufacturing industry in the region — it nonetheless has a direct impact on economies and culture here."



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