From the Guardian. And basically, der! Of course. How could it be any other way? But a well written piece, nevertheless.
A lot of money is at stake. In the UK alone, filling up cars with petrol is worth over £1bn in annual, after-tax profits to the oil industry, or about £450 a car over a 10-year lifetime. In contrast, BMW last year made about £150 after tax on each new car it sold. So for the time being at least there is more money in filling up cars than in building them, even at the top end of the market.
This is where the problem lies. For electric cars to become a reality, large parts of the refuelling market will have to change hands – and if we all switch to electric cars, the oil companies stand to lose everything. So as their shareholders would expect, they are investing heavily to avoid this outcome.