Subscribe to Receive the Daily Report

Friday, November 25th, 2016

Tesla Shock Means Global Gasoline Demand Has All But Peaked

Author:     Javier Blas and Laura Blewitt
Source:     Bloomberg
Publication Date:     November 21, 2016 — 4:01 PM PST
Link: Tesla Shock Means Global Gasoline Demand Has All But Peaked
Stephan:   Bloomberg is an establishment publication, and this is their assessment of one aspect of the transition out of the carbon energy era. My own view in this regard is that by 2030, because of mandates in countries in Europe and Asia to have non-carbon vehicular traffic by then, plus the development, of PV roadways, upon which they can run (see SR archives) petroleum will be a rapidly shrinking sector still present but much diminished. That's just 14 years from now.  This changeover is going to be very dramatic because it is going to visibly change the hundreds of thousands of gas stations we all live with.  Lots of new jobs, constructing, adapting, and servicing this  reconstructed network. The transition out of the carbon energy age is an example of the Thereom of Wellbeing in action.

gas-conumption-chartAfter fueling the 20th century automobile culture that reshaped cities and defined modern life, gasoline has had its day.

The International Energy Agency forecasts that global gasoline consumption has all but peaked as more efficient cars and the advent of electric vehicles from new players such as Tesla Motors Inc. halt demand growth in the next 25 years. That shift will have profound consequences for the oil-refining industry because gasoline accounts for one in four barrels consumed worldwide.

“Electric cars are happening,” IEA Executive Director Fatih Birol said in an interview in London, adding that their number will rise from little more than 1 million last year to more than 150 million by 2040.

The cresting of gasoline demand shows how rapidly the oil landscape is changing, casting a shadow over an industry that commonly forecasts decades of growth ahead. Royal Dutch Shell Plc, the world’s second-biggest energy company by market value, shocked rivals this month when a senior executive said overall oil demand could peak in […]

Read the Full Article

1 Comment

  1. Mark R on Friday, November 25, 2016 at 4:10 am

    Can’t happen soon enough. Electric cars will not solve all problems but its a great step to saying bye bye to nasty inefficient combustion engine. When people mention how fast technology has changed in the last hundred years..I sadly counter argue that we are still running on combustion engines. However, I look forward to the day that I can no longer make that assertion! Change is happening!!