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

Trendingnow

1

Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock

2

Former U.S. Secret Service agent says bringing your authentic self to work stifles teamwork: 'You don’t get high performers, you get sloppiness'

3

Current price of oil as of June 22, 2026

1

Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock

2

Former U.S. Secret Service agent says bringing your authentic self to work stifles teamwork: 'You don’t get high performers, you get sloppiness'

3

Current price of oil as of June 22, 2026
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

The hidden cost of your AI rollout: burning out the high performers running it
Workplace Cultureburnout
The hidden cost of your AI rollout: burning out the high performers running it
By Mikaela Cohen and HR BrewJune 23, 2026
2 hours ago
Tom and Diane Peterman pose outside their home at Black Lake on Wednesday, April 29, 2026, in Grant Township, Mich.
EnvironmentNatural disasters
FEMA told these families they weren’t in a flood zone. Then ice came through the windows
By Tammy Webber, M.K. Wildeman and The Associated PressJune 23, 2026
2 hours ago
Olympic rings at the Tesero Cross-Country Skiing Stadium ahead of the Milano Cortina 2026 Winter Olympics on February 03, 2026 in Tesero, Italy.
North AmericaSports
After the Knicks and World Cup, New York is ready for another challenge: the Olympics
By The Associated PressJune 23, 2026
2 hours ago
Quantum computing stocks surge after Trump signed executive orders backing the sector
Investingquantum computing
Quantum computing stocks surge after Trump signed executive orders backing the sector
By Marco Quiroz-GutierrezJune 23, 2026
3 hours ago
UPS workers process boxes in a sorting facility.
North AmericaUPS
UPS is shelling out nearly $50 million on temperature-controlled facilities to meet the booming demand for GLP-1 deliveries
By Sasha RogelbergJune 23, 2026
3 hours ago
Alan Greenspan testifying before the Senate Banking Committee.
BankingFederal Reserve
The man who invented the Fed’s magic trick just died. His successor is about to try it again
By Eva RoytburgJune 23, 2026
4 hours ago

Most Popular

Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock
Banking
Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock
By Jim EdwardsJune 23, 2026
13 hours ago
Former U.S. Secret Service agent says bringing your authentic self to work stifles teamwork: 'You don’t get high performers, you get sloppiness'
Success
Former U.S. Secret Service agent says bringing your authentic self to work stifles teamwork: 'You don’t get high performers, you get sloppiness'
By Sydney LakeJune 21, 2026
3 days ago
Current price of oil as of June 22, 2026
Personal Finance
Current price of oil as of June 22, 2026
By Joseph HostetlerJune 22, 2026
1 day ago
Current price of silver as of Monday, June 22, 2026
Personal Finance
Current price of silver as of Monday, June 22, 2026
By Joseph HostetlerJune 22, 2026
1 day ago
By 7 a.m., Bank of America’s CEO has already read 5 newspapers, his email inbox, and hit the gym—he says if you’re late to meetings, you’re ‘selfish’
Success
By 7 a.m., Bank of America’s CEO has already read 5 newspapers, his email inbox, and hit the gym—he says if you’re late to meetings, you’re ‘selfish’
By Preston ForeJune 22, 2026
1 day ago
The Fed is fed up with inflation and will bring down the hammer with a series of rate hikes this year, reversing earlier cuts, BofA says
Economy
The Fed is fed up with inflation and will bring down the hammer with a series of rate hikes this year, reversing earlier cuts, BofA says
By Jason MaJune 22, 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.