Transportation Electrification Will Be Long-term Process
According to a research note on the 2011 outlook for the oil market, analysts at Deutsche Bank expect transportation electrification to be slow while petrol demand remains greater in the near term.
Despite this air of caution, the note does suggest that there is increased confidence in both the pace and breadth of a shift towards a more efficient transportation system.
The positives for petrol demand include strong Chinese car growth in 2010, and in particular during the first half of the year when vehicle sales were up 30 per cent; slower than expected sales of hybrids everywhere in the world except the US; and increasing political animus towards the ethanol tax credit.
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