The BP chart you shared is the Electricity Production and Consumption. and till 2030 we can see that Oil used for production of electricity will be used, a bit less, but other fossil fuels will be used with much greater proportions, And on consumption of electricity side, minimal variance in %age terms usage in Transport....
So the Oil will be continued to used in Transport..............
From the BP chart you provided, Electricity usage is almost a flat line for transport, from which I can infer that Transport will be reliant on Oil; so in near future Crude products consuming or hybrid cars will continue to roam.
About 71% (?) of Crude is used for transportation now; and chart provided by you show that this is not going to change significantly.
From what I can read that demand of Oil is not going down significantly (if any at all) in near future.
With decreasing demand prices are impacted negatively, which in turn attract more consumers, till a balancing point is reached; Market reactions to demand, supply and prices. Nothing out of ordinary.
Between, you have not commented on my point of crude as carrier of energy and such; instead have pulled me to those point which were not addressed by me; Excellent maneuvering.
That was only upto 2030. The future does not mean just 10-12 years.
2050 and you gonna see drastic changes.
BTW, read what MD of Daimler Benz has to say:
Autonomous cars: In 2018 the first self driving cars will appear for the public. Around 2020, the complete industry will start to be disrupted. You don't want to own a car anymore. You will call a car with your phone, it will show up at your location and drive you to your destination. You will not need to park it, you only pay for the driven distance and can be productive while driving. Our kids will never get a driver's licence and will never own a car. It will change the cities, because we will need 90-95% less cars for that. We can transform former parking spaces into parks. 1.2 million people die each year in car accidents worldwide. We now have one accident every 60,000 miles (100,000 km), with autonomous driving that will drop to one accident in 6 million miles (10 million km). That will save a million lives each year.
Most car companies will probably become bankrupt. Traditional car companies try the evolutionary approach and just build a better car, while tech companies (Tesla, Apple, Google) will do the revolutionary approach and build a computer on wheels. Many engineers from Volkswagen and Audi; are completely terrified of Tesla. Insurance companies will have massive trouble because without accidents, the insurance will become 100x cheaper. Their car insurance business model will disappear.
Electric cars will become mainstream about 2020. Cities will be less noisy because all new cars will run on electricity. Electricity will become incredibly cheap and clean: Solar production has been on an exponential curve for 30 years, but you can now see the burgeoning impact.
Last year, more solar energy was installed worldwide than fossil. Energy companies are desperately trying to limit access to the grid to prevent competition from home solar installations, but that can't last. Technology will take care of that strategy. With cheap electricity comes cheap and abundant water.
BP Sees a Future of Slowing Oil Demand Growth, Abundant Supplies ...
https://www.bloomberg.com/.../bp-sees-a-future-of-slowing-oil-demand-growth-abun...Jan 25, 2017 - BP Sees a Future of Slowing Oil Demand Growth, Abundant Supplies. by ... World has enough oil reserves to meet demand beyond 2050 ...
From 2010 to 2015, world oil consumption grew at an average annual rate of 1.2 percent.
From 2010 to 2015, world consumption of wind and solar electricity grew at an average annual rate of 23.9 percent.
YOU SAY: this will make fossil fuel cheap
Article = Believe it or not! Petrol could be below Rs 30 a litre in 5 years
So you are agreeing with the article, hence what is your disagreement?
Let us not defy the conventional wisdom...
