If pending legislation passes, the Netherlands will ban the sale of new gasoline-powered vehicles by 2025. The proposal has passed the parliament’s lower house and is likely to be approved by the upper chamber. Norway considered a similar measure but rejected it in favor of exploring incentives to lure drivers toward electric transport.
For now, the Netherlands’ action is largely symbolic. All-electric cars remain pricier than gas guzzlers, and tax breaks and other government incentives are still necessary to bring electric vehicles into the average household’s price range.
TRENDPOST: The trend toward alternative energies will accelerate a fossil-free future, steadily devaluing investments in coal and petroleum assets. As more institutions, businesses and countries divest from carbon energy, profit margins will further shrink, as will exploration initiatives to drill and mine for fossil fuels.