29 May '16, 3pm

Oil demand peaks beyond 2050: Any long-term oil demand projection rests on understanding transport

“In China, car penetration rates rose tenfold in the last decade, and India stands ready to take over. India has just 1/5th the car penetration of China and, by the end of the decade, itwill also have the world’s largest population. Overall, global transport demand will undoubtedly keep growing in decades ahead, on ongoing trends of rising global population, urbanization and motorization. The impact on oil demand, however, also depends on efficiency gains and substitution to alternative vehicles.”

Full article: http://peakoil.com/consumption/oil-demand-peaks-beyond-2050

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