What Happened: Influential oil consulting group Wood Mackenzie has forecast that the world will reach peak oil demand in 2036, the Financial Times reported July 15.
Why It Matters: Wood Mackenzie's timeline is more aggressive than many previous planning scenarios and highlights how key technologies could transform how oil is consumed around the world.
Background: Improved fuel efficiency, the proliferation of electric vehicles, and enhanced automation will all play important roles in reducing the world's dependence on oil and will force companies and countries to adapt.
Read More:
- How China Is Muscling In on Lithium-Ion Batteries (July 5, 2018)
- How Renewable Energy Will Change Geopolitics (June 27, 2018)
