The Trillion Dollar Industry That Boosts Oil Consumption

The Trillion Dollar Industry That Boosts Oil Consumption

Rapid growth in mobility services like Uber and Didi Chuxing, combined with autonomous and electrified vehicles, will cause a seismic shift in the automotive and energy sectors over the next couple of decades. A new study by global research firm IHS Markit states that mobility services popularized by Uber and Lyft will create a trillion dollar industry by 2040. The smartphone app-based ride services bring vastly improved mobility to countries like China and India where a growing work force wants more transport options. Dr. Daniel Yergin, who is considered to be one of America’s most influential energy pundits, headed […]