• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Social Security's 2032 deadline puts a 22% cut on the table — but Washington has way less room to negotiate than 1983

2

CEO of $20 billion AI firm Perplexity says the secret to success is ‘sleeping with that fear’ that your competitor will steal your idea

3

Boomers actually do hold most of the wealth and power. So why do they call it 'whiny' to point that out?

1

Social Security's 2032 deadline puts a 22% cut on the table — but Washington has way less room to negotiate than 1983

2

CEO of $20 billion AI firm Perplexity says the secret to success is ‘sleeping with that fear’ that your competitor will steal your idea

3

Boomers actually do hold most of the wealth and power. So why do they call it 'whiny' to point that out?
gas

We Have Less Than 20 Years to Abandon Gasoline Engines

By
Reuters
Reuters
Down Arrow Button Icon
By
Reuters
Reuters
Down Arrow Button Icon
September 15, 2016, 7:20 AM ET
Gasoline at U.S. Pumps Seen Surging to 4-Year Seasonal High
A customer fuels his vehicle at a Road Ranger gas station in Princeton, Illinois, U.S., on Tuesday, June 17, 2014. Gasoline in the U.S. climbed this week, boosted by a surge in oil, and is expected to reach the highest level for this time of year since 2008. Photographer: Daniel Acker/Bloomberg via Getty ImagesPhotograph by Daniel Acker — Bloomberg via Getty Images
Add Fortune on Google for similar content.

The last gasoline-powered car will have to be sold by about 2035 to put the world on track to limit global warming to the most stringent goal set by world leaders last year, a study said on Thursday.

The report, by a Climate Action Tracker (CAT) backed by three European research groups, said a drastic shift was needed towards clean electric cars and fuel efficiency since transport emits about 14 percent of world greenhouse gas emissions.

Last December, world leaders at a Paris summit set a goal of limiting a rise in temperatures to “well below” 2 degrees Celsius (3.6 Fahrenheit) above pre-industrial times while “pursuing efforts” for a much tougher 1.5 C (2.7F) ceiling.

“We calculate that the last gasoline/diesel car will have to be sold by roughly 2035,” the CAT report said, to make the car fleet consistent with staying below 1.5C. It assumes the last fossil-fuel vehicles would be on the roads until 2050.

The CAT is one of the main groups that monitors government actions to restrict global warming and includes researchers who are authors on U.N. climate reports.

“It’s striking that it’s so early – it means a huge change in the whole automobile industry,” Niklas Höhne, of the NewClimate Institute, told Reuters. The other think-tanks behind the report were Ecofys and Climate Analytics.

The phase-out is earlier than set by most car makers. Toyota, for instance, has a “zero carbon dioxide emissions challenge” for new vehicles under which it aims to cut emissions from its vehicles by 90 percent by 2050, from 2010 levels.

Many scientists reckon that the 1.5C goal, seen by many developing nations as a dangerous threshold for droughts, floods and rising sea levels, has already slipped out of reach and that the 2C limit is growing close.

They believe temperatures will almost inevitably overshoot 1.5C, and that new technologies will be needed to turn down the global thermostat later this century. This year is set to be the warmest on record, with temperatures around 1C (1.8F) above pre-industrial times.

The CAT report focused most on the promise of electric vehicles, developed by manufacturers from General Motors to Tesla. Other options are cars run on biofuels or hydrogen.

The study said a greener transport sector would require a parallel shift to clean power generation, to avoid charging electric cars on power based on fossil fuels.

“Electric vehicles are still more expensive to purchase than other cars, and policy projections still only see a share of around five percent of electric vehicles in the total European Union, China and U.S. fleets by 2030,” the report said.

About the Author
By Reuters
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in

How Bobbi Brown reinvented herself—and outperformed the brand that bears her name
NewslettersMPW Daily
How Bobbi Brown reinvented herself—and outperformed the brand that bears her name
By Emma HinchliffeJune 15, 2026
45 minutes ago
The First National Bank of America logo on a green layered background.
Personal FinanceCertificates of Deposit (CDs)
First National Bank of America CD rates 2026: High APYs and terms up to 10 years
By Joseph HostetlerJune 15, 2026
1 hour ago
Michelle Obama clarifies her famous ‘Go high’ motto: It’s not about anger or pain, but more about putting a safety lock on a gun
SuccessMost Powerful Women
Michelle Obama clarifies her famous ‘Go high’ motto: It’s not about anger or pain, but more about putting a safety lock on a gun
By Sydney LakeJune 15, 2026
1 hour ago
The $1 billion game that says AI can’t replace human creativity
MagazineGaming
The $1 billion game that says AI can’t replace human creativity
By Kamal AhmedJune 15, 2026
2 hours ago
wh
Middle EastWhite House
The U.S. says Iran will give up its uranium. Iran says it won’t. They’re due to sign a deal on Friday
By Munir Ahmed, Will Weissert, Sam Mednick and The Associated PressJune 15, 2026
2 hours ago
mitch
North AmericaCongress
Mitch McConnell, 84, hospitalized with no details released; term ends in January
By The Associated PressJune 15, 2026
2 hours ago

Most Popular

Social Security's 2032 deadline puts a 22% cut on the table — but Washington has way less room to negotiate than 1983
Personal Finance
Social Security's 2032 deadline puts a 22% cut on the table — but Washington has way less room to negotiate than 1983
By John W. Diamond and The ConversationJune 12, 2026
3 days ago
CEO of $20 billion AI firm Perplexity says the secret to success is ‘sleeping with that fear’ that your competitor will steal your idea
Success
CEO of $20 billion AI firm Perplexity says the secret to success is ‘sleeping with that fear’ that your competitor will steal your idea
By Preston ForeJune 13, 2026
2 days ago
Boomers actually do hold most of the wealth and power. So why do they call it 'whiny' to point that out?
Economy
Boomers actually do hold most of the wealth and power. So why do they call it 'whiny' to point that out?
By Nick LichtenbergJune 14, 2026
1 day ago
Iran proved it can close the Strait of Hormuz, but the U.S. is advertising very loudly that the world's top superpower can at least punch open a hole
Energy
Iran proved it can close the Strait of Hormuz, but the U.S. is advertising very loudly that the world's top superpower can at least punch open a hole
By Jason MaJune 14, 2026
21 hours ago
SpaceX surge further boosts Saudi billionaire prince’s fortune
Investing
SpaceX surge further boosts Saudi billionaire prince’s fortune
By Adveith Nair and BloombergJune 14, 2026
24 hours ago
AI job disruption is here. The problem may be compounded because nearly 75% of people don't apply for unemployment benefits
AI
AI job disruption is here. The problem may be compounded because nearly 75% of people don't apply for unemployment benefits
By Jacqueline MunisJune 14, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.