Even when we get to 180m EVs globally (from 12m now) oil demand won’t drop much relative to growth. Need for oil to produce other materials or transport in growing population world mitigates EV impact.
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Unless we are at peak population. Lots of people are having still births and a whole lot of people died suddenly. Not sure why this has changed so much in the last few years but maybe we don’t continue to grow as a world populous.
Demand for gas will sky rocket as well. Only 25% of crude oil demand is for consumer transportation.
100% correct