Posted on 03/17/2021 10:17:52 AM PDT by SunkenCiv
The IEA said daily gasoline demand dropped by a record 2.9 million barrels in 2020, down more than 10% from the previous year.
The world's thirst for gasoline isn't likely to return to pre-pandemic levels, the International Energy Agency forecast, calling a peak for the fuel that has powered personal transportation for more than a century.
The Paris-based energy watchdog, in its closely followed five-year forecast, said an accelerating global shift toward electric vehicles, along with increasing fuel efficiency among gasoline-powered fleets, will more than outweigh demand growth from countries in the developing world.
The forecast comes as auto makers have pivoted recently to boost their EV fleets, after years of industry skepticism about whether car buyers would ever embrace fully electric models. General Motors Co . said it would stop selling gas-powered vehicles by 2035. Volvo Cars of Sweden has said it would be all-electric by 2030.
The world will have 60 million electric vehicles on its roads by 2026, the IEA said, up from 7.2 million in 2019. The agency tracks EV trends closely as an important signal for gasoline and crude-oil demand.
The shift toward electric vehicles has been driven by government regulation, hefty incentives in developed countries and broader consumer acceptance of the technology, in part thanks to popular models like those sold by Tesla Inc. EVs still make up a small proportion of the world's overall fleet, and auto makers say they expect to see growing demand for gas-burning internal combustion engines, particularly in the developing world, for years to come.
(Excerpt) Read more at wsj.com ...
Pic was sourced from Bloomberg.
Going to get real difficult, and real expensive to live in the next four years. Hearing the screams from Biden voters will almost make it worth it.
“The world’s thirst for gasoline isn’t likely to return to pre-pandemic levels, the International Energy Agency forecast, calling a peak for the fuel that has powered personal transportation for more than a century.”
“Experts” soon to be surprised.
How does one get a gig as an expert? I’d like another source of income. I can pull “facts” out of my @$$ as well as anyone.
I’m a retired academic, I can make up facts with the best of them.
I’d like that job too.
I call BS.
I was filling up every two days before the pandemic. Since the end of last March, I didn’t do another fill-up until just last week. I was starting to worry about the quality of gas in my tank.
I remember reading in the 1960’s alarming stories the world would run out of oil by the late 1980’s. Experts are always preaching doom and underestimating the ingenuity of the human mind. At least those humans who are determined to be productive and resourceful.
The Murdochs via their new WSJ have not been “reporters” of electric vehicle developments; they are promoters plain, simple and direct.
I'm pretty sure the only thing we've run out of is intelligent life in Congress.
We are really in or past ‘Peak Freedom’.........................
Well gee whiz. No wonder the prices have risen. Gotta make up for the fall in demand eh? :-)
We can get non-ethanol gas here in Salt Lake City. I use it in everything except my vehicles that are designed for ethanol. It’ll keep quite a while without mucking up the carburetors and such on mowers, chainsaws, generators, etc.
I do expert work all the time. Form an LLC have a masters or two and a PhD with some published work then people will call you to court as an expert or as a consultant to well consult investor’s or project managers or stock holders. It’s a sweet gig my hourly rates start at $175, $250 if I’m away from my cush home and former model 3rd wife :)
Bucees chain in Texas has E0 it’s 50 cents more per gallon than 87RON. What’s hard to find this far south is K1 on the pump. Sure TSC has it for $40 for 5 gal and Home Depot has it for $10 a gal I miss pump K1 at $2 or less. I have some kero heaters for the deck and workshop propane is just not the same I miss the smell of kero heat while smoking a pipe on deck in winter.
My Ridgeline still has over a 1/3 of a tank of gas from filling up last March during the first week of the loss of our freedom.
We, also, got a close to 70$ refund check from State Farm for our low mileage on the Ridgeline.
My wife’s Lexus has been the main vehicle, and we got a nice refund for its low mileage. We have filled the gas tank on her Lexus 3 times in the last year.
We may decide to sell my Ridgeline or give an heir and early inheritance.
Many friends in their late 70’s/early 80’s are giving up being a 2 car family and some have decided on just Uber.
really weird thing - but people want what they can’t have.
Tell them they can’t have IC engines ... watch what happens.
$10 per gallon for Kero? Yikes. Almost worth getting a 55 gallon drum and driving north til you find a pump.
The stuff keeps forever. I had 4 barrels at my cabin that had been there since it was built 1977. Still had one left when we sold it last year.
Lord, I just had a propane fill and it is up 70cents
per gallon because of the Texas winter and Biden of course.
That’s in bulk with a veterans discount too.
Gasolene was under $2 during Trump and is now $2.69 a gal at the
pump also.
Thanks alot all you Biden voters!
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