Global Oil & Gas: “Peak oil demand 12 years away” – Bank of America

bank-of-america.jpgAdding another voice to the peak oil debate, Bank of America Merrill Lynch predicts that the world will hit peak oil demand by 2030. At that point, EVs will account for 40 percent of auto sales.

“Electric vehicles will likely start to erode this last major bastion of oil demand growth in the early 2020s and cause global oil demand to peak by 2030,” the analysts wrote in an emailed report.

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