- Peak oil demand theory more or less replaced the peak oil supply theory as the dominant paradigm. The proliferation of EVs and other factors were cited as culprits.
- The case of Norway, where EV sales now make up more than half of all car sales suggests that high EV sales volumes are not having an immediate impact.
- The impact of EV sales is going to be less in much of the developed world, where ICE-powered car sales could still increase, even as EVs gain in market share.
- Because it has been assumed that we are on the brink of a peak in oil demand, investors have been under-estimating the value of reserves, thus the value of many companies.
For further details see:
Norway's Oil Demand Data Is A Cold Shower For EV-Driven Peak Oil Demand Proponents