The International Energy Agency moved up the date when it expects oil demand to peak to before 2030. Electric vehicle growth is a big part of the reason.
Recent industry reports indicate that we may be approaching peak global demand for oil. If that’s the case, the federal Conservatives may need to rethink their electoral strategy.
Shifting to plug-in cars wouldn’t be enough to max out global oil consumption by 2040. But it could help make that happen if cities pitch in and ride-sharing doesn’t crowd out public transportation.