backgrounds
・At the COP28 climate conference held in Dubai, many tough discussions have unfolded about the slow pace of reducing fossil fuel consumption in order to combat climate change. However, one positive point that participants can point out is that the number of electric cars is increasing around the world, and it is already generating surprisingly large demand.
・According to industry experts, forecasters are hastening predictions about when global oil usage will peak in response to recent growth in electric vehicle sales. It is said that this is because consumers can overcome the sometimes impressive high sticker prices for battery-operated cars due to public subsidies and improvements in technology.
・The International Energy Agency (IEA), which is based in Paris and consists of 29 advanced countries, predicts that world oil consumption will peak at 103 million barrels per day at the end of this century after regularly adjusting from the 2017 forecast of almost 103 million barrels per day. The daily volume will peak at 105 million barrels in 2040.
・Mr. Apostolos Petropoulos, the IEA's energy modeler, said, “We support the transition to electrification in terms of policy, and the growth of global demand for oil...