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Page added on January 26, 2018

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A new analysis says global demand for oil will peak by 2030

Consumption

The global demand for crude oil will peak in 2030 as electric vehicles continue to chip away at the market for gasoline-powered cars and trucks.

So say analysts with Bank of America Merrill Lynch, who predict that EVs will grow to 40 percent of new-car sales worldwide over the next 12 years.

“Electric vehicles will likely start to erode this last major bastion of oil demand growth in the early 2020s and cause global oil demand to peak by 2030,” the analysts wrote in an emailed research note, according to Bloomberg.

The new analysis is a more aggressive outlook than that of other experts, including the International Energy Agency, the U.S. Energy Information Administration and OPEC, all of which don’t see the demand for oil starting to decline until 2040.

Meanwhile, Royal Dutch Shell CEO Ben van Beurden has said oil could peak as soon as the late 2020s or early 2030s, but only if the technology and policy continue to develop rapidly.

Amin Nasser, CEO of Saudi Aramco, the world’s largest oil company is less bullish on EVs. He told CNBC that electric vehicles will continue to grow its share of the market, “but it will be decades before they shoulder a significant percentage of the energy mix.”

 

KYMA



54 Comments on "A new analysis says global demand for oil will peak by 2030"

  1. Cloggie on Sun, 28th Jan 2018 6:29 am 

    Until someone screws up and in the case of millions of bore holes a certain percent will.

    And how would that “screw-up” look like, self-professed master-of-science-for-the-people? It is neutral water that is circulated through the cold side of the heat pump system. But what do you know?

    Here we have again empire-Dave systematically talking down every possible way-out. He WANTS the global joint to collapse, probably to avoid the embarrassment of a collapsing US empire all by itself, where the rest of the world merrily marches on. Can’t have that. If the US-empire collapses, the rest of the world needs to collapse with it. No shit Sherlock.

    Dream on. The world didn’t collapse when the British, Dutch, French and Soviet empires collapsed. Won’t be different with the US variety. That’s what empires do for a living: collapse.lol

    #BeerAndPopcorn

    It’s going to be a good laugh when all these US marines…

    https://tinyurl.com/y9hsctdb

    …will be leaving Europe.

    Bye-bye und auf niemals Wiedersehen!

  2. Davy on Sun, 28th Jan 2018 6:42 am 

    “And how would that “screw-up” look like, self-professed master-of-science-for-the-people? It is neutral water that is circulated through the cold side of the heat pump system. But what do you know?”
    Ahh, to error is human and when you do that with extreme tech the errors are great. Don’t you think millions of heat pump boreholes is a bit extreme? Nedernazi, anytime you put that many holes in the ground you are opening up the ground water system to contamination from any of a number of possibilities. It is the amount of bore holes you are pushing for that means there will be consequences because there always are.

    “Here we have again empire-Dave systematically talking down every possible way-out. He WANTS the global joint to collapse, probably to avoid the embarrassment of a collapsing US empire all by itself, where the rest of the world merrily marches on. Can’t have that. If the US-empire collapses, the rest of the world needs to collapse with it. No shit Sherlock.”
    Sounds like I won the argument. Whenever nedernazi changes the subject he indicates he has run out of ammo. WHITE FLAG

    “Dream on. The world didn’t collapse when the British, Dutch, French and Soviet empires collapsed. Won’t be different with the US variety. That’s what empires do for a living: collapse.lol”
    No argument there I am just arguing with the nedernazi replacement fantasy.

    “#BeerAndPopcorn It’s going to be a good laugh when all these US marines……will be leaving Europe. Bye-bye und auf niemals Wiedersehen!”
    Amen, the sooner the better to let the Eurotards start doing something about their own security. What a bunch of whining pussies.

  3. Newfoundlander on Mon, 29th Jan 2018 3:06 am 

    In Canada, where temperatures plunge below -10 C, an EV would have a range of maybe 10 to 20 kilometers with the battery using most of its energy to heat the interior of the car. I sure as hell ain’t buying no EV in this climate.

  4. Cloggie on Mon, 29th Jan 2018 12:28 pm 

    New York State getting serious about offshore wind to the tune of $6B:

    https://cleantechnica.com/2018/01/29/yes-new-york-state-6-billion-serious-offshore-wind/

    (To be build by Norwegians. Glad we European can do something in return for all these gallons of Texaco and Chevron gasoline throughout the decades!).

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