21 May '12, 12am

Report: High oil prices forcing firms to weigh green car options

Oil prices that have stubbornly remained above $100 a barrel have prompted around a quarter of businesses to look at alternative fuel vehicles as a way of cutting costs, new research has revealed. Asian and G7 countries are leading the charge, where respectively 31 per cent and 28 per cent of companies have examined the possibilities presented by greener fleets, such as cars powered by electricity, biofuels, or liquefied natural gas. That is the conclusion of a major survey of 3,000 executives conducted by business advisers Grant Thornton and released last week, which also revealed that high oil prices are the primary driver behind growing corporate interest in green fleets. Just under 70 per cent of respondents named a high oil price as the main reason for exploring alternative fuel options, while 62 per cent cited general cost management and 55 per cent highlighted tax b...

Full article: http://www.businessgreen.com/bg/news/2175947/report-oil-p...

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