Oil demand could peak globally as soon as 2020, putting downward pressure on oil prices, due to a combination of vehicle fuel efficiency standards, and competition with natural gas and electric vehicles.
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Fossil Fuel - Nov 14, 2018
And progress alone, not perfection, is sufficient to trigger peak demand and the tectonic shifts that go with it. Those who wonder if these forecasts are accurate can look to the history of the greening of electricity generation in Europe and China and particularly in India where targets for are being raised as momentum gathers based on technological progress. Similarly, the rash of new entrants and accelerated development of electric cars demonstrates the depth of near-term changes now expected in passenger transportation.
The Rapid Acceleration Towards Peak Oil Demand | OilPrice.com
Decreasing demand in the developed world, and more stringent climate change policies in industrializing countries are bringing the world closer to peak oil demand according to several independent studies
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