‘More Pain at the Pump to Come,’ Stephen Schork Says Global road fuel demand will peak in five years though it will be decades before shifts in consumption reshape transportation’s reliance on fossil fuels, according to a report from BloombergNEF. Road fuel use will rise to 45.2 million barrels a day by 2027 at which point efficiency improvements will begin to cut into demand growth, according to David Doherty and Daisy Robinson. The development of zero-emission vehicles, like electric or fuel-cell powered, and autonomous vehicles will lead to long-term cutbacks, they said. As the retail price for motor fuels like gasoline and diesel have risen to record highs in the US, the Biden administration has made inquiries to fuelmakers about their capacity to boost production. Most US refiners are running close to their maximum output and some have noted that long-term initiatives to cut fossil-fuel use make it uneconomical […]