GM’s electric vehicle plan could shake up the energy sector — but how soon?
‘The future of transportation, starting now, is electric,’ says environmentalist working with automaker. Warren Mabee, director of Queen’s University’s Institute for Energy and Environmental Policy, believes for the oilpatch, the significance of GM’s announcement outweighs the recent cancellation of Keystone XL. “That really starts to eat away at the demand side of the equation as consumers have more and more electric vehicles available to them,” Mabee said. “And as the costs sort of come in line with what [consumers are] expecting to pay, I think we’re going to see fewer and fewer people opting for gasoline-powered vehicles. “That really has long-term implications for the industry.” But he sees opportunities, too, whether they are in batteries or hydrogen. “Let’s try to beat some others to the punch because I think there’s some real potential.”