Electric vehicles are a world-changing technology, 2-6x more efficient than ICEs, but how quickly will they ramp up to re-shape global oil demand? This 14-page note finds surprising ‘stickiness’. Even as EV sales explode to 200M units by 2050 (2x all-time peak ICE sales), the global ICE fleet may only fall by 40%. Will LT oil demand surprise to the upside or downside?
the research consultancy for energy technologies
