Nigeria In Trouble As China Seeks To Ban Petrol and Diesel Vehicles?

China, world’s biggest car market, plans to ban the production and sale of diesel and petrol vehicles, further threatening the future profitability of oil — Nigeria’s major revenue source.

The development comes 2 months after UK, like Germany, France, India, Norway and Netherlands, revealed plans to ban fuel-run cars, as part of efforts to reduce air pollution.

The ban will lead to a reduction of oil demand in China, as the country is currently the world’s second-largest oil consumer after the US.

more on :http://solagist..com.ng/2017/09/nigeria-in-trouble-as-china-seeks-to.html

It's is misconstrue to think that if cars stop using carbon fuels the value of crude oil will diminish, there are half of the resources used to produce an electric car will still come from fossil deposits