Oil Companies Testing Low-Emissions Gasoline as an Electric Vehicle Alternative
The two biggest U.S. oil companies are testing the production of new, less carbon-emitting blends of gasoline, as the government push for electric vehicles (EVs) gets more pronounced.
Chevron Corp. and Exxon Mobil Corp. are testing gasoline production from non-fossil sources, a move that could extend the period gasoline-powered vehicles remain available for purchase, as a low-emissions alternative to EVs.
“We really believe there has to be alternatives for the light-duty vehicle,” Andy Walz, Chevron president of Americas Products, said at an event on Wednesday to road test the fuel. “Electrification is not the only answer.”
Chevron and Exxon disclosed test results from partnerships with automaker Toyota Motor Corp. using renewable gasoline partially made from soybeans or other non-fossil feedstocks. The blends could be used by the existing U.S. car fleet and gas stations, the oil majors have said….