The surprising reason the world is hitting peak oil demand faster than anyone thought

Описание: Global demand for oil will peak by 2030, and then decline. These estimates continue to be revised forward, as crude oil demand is being destroyed at a faster rate than expected.

The electrification of transportation systems is the primary driver. But by far the biggest destroyer of oil demand is the booming sales of electric bikes and scooters. E-bikes take twice as much oil off global markets as electric cars, trucks, buses, and trains--combined.

And it's not just in Asia. In North America and Europe, millions of electric bikes are sold every year, and almost all of them are displacing ICE-powered vehicles, instead of traditional bicycles.

Resources and links:

Bloomberg, How EVs Will Drive Peak Oil This Decade, in Five Charts
https://about.bnef.com/blog/how-evs-w...

How many wheels should your next EV have?
https://www.anthropocenemagazine.org/...

Electric bike sales around the world pass key milestones
https://www.cyclingelectric.com/in-de...

Electric Bicycle Market Insights From Industry Experts
https://www.peopleforbikes.org/news/e...

E-Bike Facts & Statistics for 2025
https://www.ebicycles.com/ebike-facts...


Electric bike sales grew by 145% in the US last year - here’s why that matters
https://www.weforum.org/stories/2021/...

BCC Research: Top 5 Players in the Global E-Bike Market
https://blog.bccresearch.com/top-5-pl...

Electric Scooters Market Size, Share & Trends Analysis Report By Battery (Lithium-ion, Lead-acid), By Drive Type (Belt Drive, Hub Motor), By End-use (Personal, Commercial), By Region, And Segment Forecasts, 2024 - 2030
https://www.grandviewresearch.com/ind...

Closing scene, Suzhou Botanical Gardens, Jiangsu