backgrounds
・At the COP28 climate conference held in Dubai, many tough discussions were developed 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, which is already generating surprisingly large demand.
・According to industry experts, forecasters are speeding up predictions about when global oil usage will peak in response to recent growth in electric vehicle sales. It is said that this is because with public subsidies and technology improvements, consumers can overcome the sometimes astonishing high sticker prices for battery-operated cars.
・The International Energy Agency (IEA), which is based in Paris and consists of 29 advanced countries, predicts that global oil consumption will reach its peak at 103 million barrels per day by the end of this century after making regular adjustments from the 2017 forecast of almost 103 million barrels per day. In 2040, it will reach a peak of 105 million barrels per day.
・IEA energy modeler Apostolos Petropoulos said, “We will support the transition to electrification in a policy manner, and the growth of global oil demand...