The Way Exxon Sees It, Only 6 Percent of Vehicles Would Be Electric in 2040

Irving-based Exxon Mobil Corp. says the existential threat to oil producers from electric cars is overblown.Despite concern that electrification will render obsolete the gasoline-fueled internal combustion engine, the world's biggest crude explorer says the 158 year-old oil industry won't go gentle into that good night.The electric-vehicle, or EV, fleet won't grow fast enough to displace much in the way of fuel demand, according to Exxon Vice President Jeff Woodbury. Plus, heavy-duty trucks and petrochemicals are where the real action is anyway, he said during a conference call with analysts on Friday.  Continue reading...