According to estimates by Bloomberg sales of fuel and vehicles has already peaked, and perhaps never more to rise, because the price of batteries fell. The increase in the number of electric vehicles, in turn, means that the peak demand for oil can come in just 10 years.
According to a new Bloomberg NEF report, oil demand is projected to peak in 2028 for passenger cars and in 2035 for commercial vehicles. The rapid growth in electric vehicle sales will cause a slowdown, a peak, and then a drop in oil consumption. Oil prices and the cost of investment in oil companies will fall. Continue reading
Passenger car sales from ice have already reached a peak, and this development will have wide implications not only for the automotive sector, but also for oil and gas, metals and mining companies.
According to new research, electric vehicles should account for more than half of global passenger car sales by 2040 and completely dominate the bus market.
Sales of diesel and gasoline vehicles will continue to decline, according to Bloomberg NEF Electric Vehicle Outlook 2019 forecast. Continue reading