Proponents of the Electric Car are already convinced that the advent of cars with plugs will ultimately spell doom for the Big Oil companies and countries that rely on oil exports. Meanwhile the oil industry, led by OPEC, is expecting steady growth through at least 2040. But what will it take for the rest of the market to “see the light” and accept the fact that demand for oil will soon peak and slowly erode? In this report I will examine the fundamentals of oil demand destruction from a markets perspective. Using a combination of conservative estimates, educated guesses, and market insights I will quantify the amount of PEV sales needed to cause enough oil demand destruction necessary to change the long term outlook of the oil market. Furthermore, […]