EV sales growth points to oil demand peaking by 2030 − so why is the oil industry doubling down on production?

Mobility
02/10/2023 Article
profile picture of  Robert Brecha

Robert Brecha

University of Dayton

Professor of Sustainability

Electric vehicle sales are growing faster than expected around the world, and, sales of gas- and diesel-powered vehicles have been falling. Yet, the U.S. government still forecasts an increasing demand for oil, and the oil industry is doubling down on production plans.

Why is that, and what happens if the U.S. projections for growing oil demand are wrong?

I study sustainability and global energy system transformations. Let’s take a closer look at the changes underway.

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