LONDON, Jan. 26 (UPI) -- Cutting the amount of greenhouse gasses emitted by cars on British roads in half by 2050 is achievable, an energy report from London declared.
A study sponsored by the Global Fuel Economy Initiative said, while it will be tough to cut fuel consumption and reduce greenhouse gasses from new and used cars, goals could be achievable with the right incentives.
"This will ensure that the necessary fiscal and regulatory environments are in place to achieve significantly improved fuel economy," said George Eads, an author of the report, in a statement.
GFEI said fuel economy and lower greenhouse gas emissions go hand-in-hand, translating to a global annual saving of about 6 billion barrels of oil per year by 2050.
Lew Fulton, a transportation analyst at the International Energy Agency, which worked with GFEI on the study, said existing technology was putting 2050 targets in sight.
"Now that we have confirmation that car fuel consumption can be cut significantly over the next few decades with technologies that are readily available, we must continue building momentum to ensure this happens," he said.
The IEA adds that the number of vehicles on the road by 2050 will triple from 700 million in 2011 to more than 2 billion by 2050.
