"Are Electric Vehicles Pushing Oil Demand Over a Cliff?"

"With China now planning to phase out gas-powered cars, automakers are talking about an all-electric future. It could mean a big drop in emissions."

"A research note from Barclay's Bank last week summed up what the boom in electric vehicles, along with gains in fuel efficiency, might mean for oil demand—a reduction, by 2025, almost as large as Iran's total production. And if electric vehicles seize a third of the car market by 2040, the drop in demand would be nearly as much as Saudi Arabia produces.

That kind of jaw-dropping outlook has become increasingly common in recent months amid signs that a tipping point is coming for electric vehicles.

The technology breakthroughs, market forces and government policies might also auger a peak in oil demand, and that would be a big step toward wiping out emissions of greenhouse gases from the automotive tailpipe.

From Europe to Asia, and in parts of the United States, policymakers are talking about how to make it happen."

Erica Gies reports for InsideClimate News October 10, 2017.

Source: InsideClimate News, 10/10/2017