Why Tesla Doesn’t Scare The Fracking Industry Chris Isidore Byline

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Midland, Texas, home of the boom in US oil and natural gas production, is more than 300 miles from the nearest Tesla store, but it feels even farther away: The projected growth in electric vehicle sales doesn’t worry industry leaders.

“We use about 100 million barrels of oil in the world a day,” said Scott Sheffield, CEO of Pioneer Natural Resources, one of the largest players in the oil and gas field known as the Permian Basin. “Roughly 25 million of that is used for gasoline automobiles. If we convert all 25 million barrels a day overnight to electric vehicles, we’re still going to need a lot of hydrocarbons.”

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