econintersect.com
       
  

FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.



posted on 20 November 2017

Oil On The Road To Obsolescence

from Statista.com

-- this post authored by Martin Armstrong

According to a new report from OPEC (Organization of the Petroleum Exporting Countries), the number of passenger cars in the world will almost double by 2040.


Please share this article - Go to very top of page, right hand side, for social media buttons.


In 2016, there were an estimated 1.1 billion cars on the planet and in the space of 24 years that figure is expected to rise to 2 billion - driven mainly by increased demand in Asia.

Despite this jump, the corresponding oil demand is not expected to keep speed. In fact, despite a small increase projected to 2025, the number of barrels needed to fuel the world's cars is due to then start to fall to 2040. Although OECD countries are forecast to have 46 million more cars come 2040, oil demand from these vehicles is going to fall by 4.8 million barrels per day. In contrast, demand in developing countries will increase by 6.5 million.

Overall though, the vital importance oil has for our personal mobility is gradually driving down the road to obsolescence. Initially due to the increased fuel efficiency of modern cars, the increasing penetration of alternative fuel cars will in the long term be the decisive factor.

Infographic: Oil on the Road to Obsolescence | Statista You will find more statistics at Statista.

>>>>> Scroll down to view and make comments <<<<<<

Click here for Historical News Post Listing










Make a Comment

Econintersect wants your comments, data and opinion on the articles posted. You can also comment using Facebook directly using he comment block below.




Econintersect Contributors








search_box
Print this page or create a PDF file of this page
Print Friendly and PDF


The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.







Keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government





























 navigate econintersect.com

Blogs

Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day
Weather

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  Top Economics Site

Investing.com Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2017 Econintersect LLC - all rights reserved