If you were thinking that the rise of long-range electric vehicles, like the forthcoming Chevy Bolt or Tesla Model 3, might lead to the demise of gas-burning cars, think again. According to Organization Of Petroleum Exporting Countries (OPEC), 94% of the global car fleet will still run on fossil fuels in the year 2040.

In its annual World Oil Outlook report, OPEC estimates that EVs will represent a mere 1% of the global car market in 2040. Hybrids, however, which the organization considers mostly gas-powered due to their onboard gas-burning engines, will command 14% of the market by the same date. Read more…

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About 94% of cars will still be powered by fossil fuels in 2040, report says