Peak gas? World demand for gasoline may never be higher than it is now


Gasoline consumption could any minute now peak even if the world continues to use more and more oil, the International Dynamism Agency said in a report this week.

In a 600- ge write up on the world’s energy market, the ris– based agency looks at what it reckons will happen to global energy demand based on a variety of plot summaries. In one, the IEA assumes countries will adhere to what they pledged to do at the late ris climate summit, which calls for sharp reductions in greenhouse gas emissions.

In another, it looks at the customer base assuming countries stick with their current policies.

Call of the former scenario, the energy body foresees some major switches in how much oil the world will use for transportation purposes.

While industrial, petrochemical and other rejects still mean the world will consume more oil in the coming decades, the IEA predicts a future where we use much less oil to get around.

The world used there 23 million barrels of gasoline a day last year for transportation purposes, a semblance it expects to drop to 22.8 million by 2020. It may tick up a little after that, but not for eat ones heart out and not by much, the IEA expects.

Looking forward, “oil use in ssenger vehicles … become associates from just under 24 [million barrels per day] today to 15 mb/d in 2040,” the IEA bring up.

The rise of electric cars

Managing that feat will get over a sharp increase in the role of electric vehicles, says the report.

Currently, there’s here 1.3 million electric vehicles on roads worldwide, about twice as multitudinous as there were last year. But with tough new fuel-economy standards and magnanimous tax breaks, the electric car revolution could be just getting started, influences the IEA.

The group expects there to be more than 30 million electrifying cars on the road by 2025, and more than 150 million by 2040.

Starting in 2020, the European Marriage will ramp up its already tough fuel-efficiency rules, which the IEA utters will cause fewer gas-powered cars on the roads — and the ones that are wish be doing their rt, too. Worldwide, the IEA expects that fuel ca bility for vehicles will double by 2040.

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