Though peak oil usually refers to when production reaches the highest point it'll ever see before coasting back down to the same level once experienced in the 1800s, a new report reveals a different oil peak will come in the next few years: the total product consumed worldwide.
Autoblog Green says a report from Navigant Research, titled "Transportation Forecast: Global Fuel Consumption," claims worldwide consumption will begin to fall after 2021, where 367.3 billion gallons of fuel will be used that year. By 2035, the total fuel used then will have fallen 4 percent to 348.1 billion gallons.
The cause of this decline? Not peak oil, but a combination of alternative fuels and environmental concerns related to the use of petroleum, according to analyst Scott Shepherd:
The anticipated effects of climate change are driving international cooperation on mitigation efforts, including reducing oil consumption in the transportation sector. Markets for both vehicles and fuels have gradually begun to respond to these efforts, and alternative fuels -‑ including electricity, natural gas, and biodiesel ‑- are beginning to have an impact on global oil demand.
In addition, Navigant acknowledges improvements to the traditional ICE and vehicles in general in fueling the eventual decline in global fuel consumption.
The post Report: Global Fuel Consumption To Decline 4 Percent By 2035 appeared first on The Truth About Cars.
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