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Why EVs Can’t Do Without Oil

Like most debates these days, the debate on the carbon footprint of electric vehicles is a heated one with the most vocal opinions coming from extreme camps. Again, like most other debates, the truth is at neither extreme. It is in the middle and says that electric vehicles would never have a chance against internal combustion engines if it were not for the oil industry or, more specifically, the petrochemicals industry.

It is a truth often overlooked that there are thousands of products we use in everyday life that contain oil derivatives. The list is impressively long even without including plastics, but plastics are the biggest reason why EVs cannot do without oil, and this includes carbon fibre, which is also an oil derivative.

Union Jack Oil (LON:UJO), The directors believe that significant opportunities exist to invest in, or acquire, a company or companies or businesses or assets in the hydrocarbon sector.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.