For EVs to ‘win,’ battery tech must outpace oil-industry advances

Analysts say moderate oil prices in the U.S. will continue to inhibit the growth of BEV sales-even as battery costs decline.

As the auto industry ramps up development of battery-electric vehicles, petroleum remains king-and analysts are predicting a possibly epic wreckage as conflicting global trends, consumer desires and classic auto-sector demand cycles collide.

Oil prices are moderate in the U.S. and the industry continues to exploit new reserves at reasonable prices. Which means the focus is not on oil supply but meeting peak oil demand. This scenario would seem to inhibit the growth of battery-electric vehicle (BEV) sales-and if it continues for a long period, sales could indeed be impacted, noted Trish Curtis, president and co-founder of Petronerds, a global energy-analytics firm.