Forbes – Felicia Jackson
Potential demand displacement from electric vehicles could peak oil demand sooner than expected, according to the latest research. In order to achieve global decarbonisation goals however, it’s going to be necessary to address other oil hungry sectors like aviation, shipping and petrochemicals.
Research group Carbon Tracker has been arguing for some time that the shift towards electric vehicles could have a more rapid impact that most analysts are projecting. Carbon Tracker’s New Energy Strategist Kingsmill Bond argues that change in the market are likely to follow the development path of energy technologies like wind and solar. Global incumbents from fossil fuel companies to international agencies have continued to under-forecast the growth of renewables year on year for a long time.
Read the full article on the Forbes website here.