Abstract:
What if you knew, that 12 years from now, demand for your product would dramatically fall? What would you do?
The transportation sector is responsible for more than 60% of worldwide demand for petroleum products. However, recently, several countries have introduced policies banning the internal combustion engine (ICE) and/or supporting electric vehicles (EVs) which could have a major impact on this demand. Norway, India, The Netherlands, Germany, China and the UK have all made such announcements. Furthermore, the increasing affordability and reliability of EVs combined with their excellent maintenance and automation capabilities has driven EVs to become among the best-selling luxury cars available today.
There is no way to be certain what the new normal of 2030 may bring for petroleum transportation fuels and the automotive industry. Forecasts range from a world dominated by EVs and substantially reduced demand for oil, to scenarios where the impact to petroleum demand is less than a 10%. Whatever the future may bring, renewable energy paired with flexible and intelligent electric vehicles is emerging as a threat, and the petroleum and automotive industries are responding through a myriad of strategies.
Throughout history, even small disruptions in supply or demand has created major impacts on industry profitability. Based on case studies from around the world and work with large petroleum companies in Australia, this paper will discuss how leading companies are preparing for a post-ICE world and will consider what steps petroleum and automotive industry executives should be taking today to ensure that they remain vibrant and viable in the new normal of 2030 and beyond.
Biographies:
Bernadette has more than 26 years of experience across the oil and gas value chain and all stages of the capital project to operations lifecycle. She has worked with companies in the upstream, downstream, midstream, LNG and trading segments as well as in conventional and unconventional oil and gas. Bernadette focuses on supporting Australian and international companies to be globally competitive. Day to day, she helps companies reduce cost, improve business performance and grow.
Bernadette is an active speaker in Oil & Gas industry conferences and is a noted author on the competitiveness of Australian Oil & Gas industry.
Bernadette is the co-founder and leader of the Energy Industry Collaboration Group, an organisation comprised of more than 30 service sector and operator companies focused on increasing collaboration and the competitiveness of the Australian oil and gas industry. She is a Director of METS Ignited, the Industry Growth Centre for the mining equipment and technology services sector and is on the board of Women in Oil & Gas. She is also a fellow of Engineers Australia.
Prior to joining Deloitte, Bernadette was Managing Director for Energy in Accenture’s Perth practice and APAC Energy Lead.
Steve has more than 8 years’ experience in the energy industry working in the US, Europe, and Australia. Steve’s focus is on energy transitions and integration of hybrid energy projects through applying experience in upstream oil and gas, LNG, electricity transmission and distribution, solar, wind, biogas, and battery storage.
Steve’s background is in engineering and mechanical design, and he has worked with international clients on projects across all stages of the capital project lifecycle including concept design, venture setup, offshore installation, operations and maintenance, and decommissioning.
Prior to founding TAWA Clean Energy, Steve developed technical and commercial designs for a Net-Zero Energy solar lifestyle village consisting of 200 homes, clubhouse facilities, and shared electric vehicles. Steve is passionate about facilitating, accelerating, and participating in the transition to a sustainable energy future.