The IEA Sees Peak Oil Demand! Yawn

The IEA Sees Peak Oil Demand! Yawn

Share to Linkedin Wow. So, just as talk of $4 a gallon gasoline for this summer began to heat up, the oil price crashes and prognosticators everywhere swivel faster than a weathervane in a Kansas tornado. One thing that impressed some reporters but probably had only a minimal impact on Thursday's price move was the front page Wall Street Journal story which reported that the IEA's Fatih Birol said, "We do not think gasoline consumption will come back to 2019 levels again." And Volkswagen's CEO Herbert Diess is quoted saying "E-mobility has won the race." Class, your assignment is to compare and contrast that with the Wall Street Journal's March 8 story, "Electric Vehicles are the Future“”if dealers can figure out the sale" It not only describes poor EV sales in the U. S., but dealer skepticism about a long-touted, repeatedly failed product. Seen a Solectria Force lately? Or a GM EV1? So, what's behind the many gushing stories about the coming dominance of the battery electric vehicle (BEV)? Well, sales are booming, as the figure below shows, a rate of growth that should make oil companies tremble and lithium miners smile. On top of that, the CEO of Exxon