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© GRAPHIC NEWS

© GRAPHIC NEWS

© GRAPHIC NEWS

Graphic charts how gasoline consumption is set to plateau.
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ENVIRONMENT

Gasoline consumption peak

By Ninian Carter

November 22, 2016 - The International Energy Agency forecasts global gasoline consumption will peak in the next 25 years, as more efficient cars and the advent of electric vehicles halt growth in demand.

“Electric cars are happening,” IEA Executive Director Fatih Birol told Bloomberg 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 projections are part of the analysis the Paris-based IEA did for its “World Energy Outlook 2016” flagship report.

Royal Dutch Shell Plc, the world’s second-biggest energy company, shocked rivals this month when chief financial officer Simon Henry said. “demand will peak before supply… and that peak may be somewhere between 5 and 15 years hence.”

However, Exxon Mobil, the largest publicly traded oil company, doesn’t share Shell’s pessimism, stating in its annual outlook that “global demand for oil and other liquids is projected to rise by about 20 percent from 2014 to 2040.”

Sources
PUBLISHED: 22/11/2016; STORY: Graphic News
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