One of the most pressing economic issues in the modern world is the price of oil. In addition to the price, there are concerns about availability, the effects of prolonged, heavy usage on the environment, and the relationship between oil needs and international conflicts around the globe. Clearly, a heavy addiction to oil is unsustainable, particularly when one considers the kind of economic difficulties (not to mention international disputes) that will result when oil eventually starts to run out. It is also unsustainable in an environmental sense. 80% of Canada’s annual oil consumption is due to transportation, and 90% of the crude oil used in Eastern Canada comes from other countries. Gilbert argues that the best alternative transport power source is electricity, because it outperforms internal combustion engines of all kinds in every relevant category other than storage capacity. Biofuel production is gaining in popularity but it frequently competes with food production in developing areas of the world. In addition to this, internal combustion engines often create pollution that is environmentally unsustainable. In order to preserve the environment, reduce foreign oil dependency, and avoid having to reduce transport volume, it is essential to begin a switch to electricity.
http://www.theglobeandmail.com/report-on-business/economy/economy-lab/the-economists/why-electricity-is-the-best-alternative-transport-fuel/article1793008/