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This Chevron Economist Isn’t Worried About Electric Cars

  • Vehicle fleets take 10-15 years to be replaced, Karson says
  • Only about 1 percent of cars sold today are electric
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Why Electric Cars Aren't Taking Over Yet

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Chevron Corp.’s Senior Economist Adam Karson may have put down a deposit on a Tesla 3 but he doesn’t see electric cars upending his employer’s business any time soon.

Given the average life of an vehicle is between 10 and 15 years, every vehicle sold today would have to be electric for the world’s automotive industry to be free of fossil fuels by 2035, Karson said at a conference in Houston on Friday.