Will EVs Really Crush All Oil And Gas Demand?

Last year, the electric vehicle sector crossed a global milestone, with one out of ten vehicles sold being electric for the first time ever. While that slice of the market might not seem like much in the grand scheme of things, another alarming trend for legacy ICE vehicle makers like Ford Motor Co. (NYSE:F), Mercedes-Benz Group AG and BMW is that their total vehicle sales declined despite EV sales more than doubling. Obviously, oil and gas investors are receiving these developments with a bit of trepidation considering that…