, Columnist
Oil Demand for Cars Is Already Falling
Electric vehicles are displacing hundreds of thousands of barrels a day, exceeding expectations.
Growing green.
Photographer: Qilai Shen/Bloomberg
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The International Energy Agency published its World Energy Outlook this week, its annual effort at revising assessments of future demand for and supply of fuels and electricity.1 There’s a familiar theme within it: The IEA expects more renewable-energy use in the future than it did in last year’s outlook, which was more than it forecast in the 2016 outlook. There’s also something noteworthy on transportation: The IEA is calling the top on oil demand from cars.
According to the report: