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Battery cars will not dent oil demand by much: New analysis
Jul 27: The world is now more bullish about the future of oil than it was for a few years now
8Fresh research seems to show that the advent of electric cars will not dent demand for crude to the extent it was thought off earlier
8It is also important to revisit the timing of battery costs falling to levels that compete with internal combustion engines and how issues surrounding the battery supply chain (e.g., availability of lithium and cobalt) will affect cost, the argument goes on the stress
8In addition, the slow pace at which new mines are opening could slow the rate of battery production and EV penetration.
8The conclusion is that it would take decades and significant policy drivers for the world to transition away from oil.
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