Are fossil fuels here to stay?

01st May 2007

That's the forecast from a top analyst - and it's a blow for manufacturers investing millions in alternative fuels.

According to the latest figures from the experts at Frost & Sullivan, 69 per cent of all new models sold worldwide in eight years' time will be petrol powered, with nearly a quarter using diesel. The prediction is that only a fraction of buyers will choose eco-friendly hybrids or models which run on bat­tery power, fuel cells or biofuels from showrooms.

The statistics were backed up by the view of the UK-based Petroleum Industry Association. A spokesman told Auto Express: "Oil isn't running out just yet. The reserves will last us for the next 40 years." Meanwhile, the Inter­national Energy Agency is predicting that oil - petrol and diesel - will still be our major source of energy in 25 years.

Frost & Sullivan's Vijayendra Rao added: "Despite the focus on developing and promoting environmentally friendly engines, only six per cent of vehicles will be hybrids by 2015." Instead, the firm claims we'll see more models on our roads with smaller, more efficient petrol and diesel engines, featuring economical direct-injection technology and turbocharging for greater power.