Tricon Oil is a major division of a global energy company with an oil exploration unit, a distribution unit, and a retail gas station unit. CEO Gary Jacobs is conducting a situational analysis in order to develop a five-year strategic plan. Over the next several years, Jacobs expects electric vehicles to impact revenues in the retail unit. This trend in the external environment has strategic relevance for Jacobs.

It is an example of a _____ development.

A. technological

B. legal

C. political

D. economic