Well, that’s a first. In its annual Energy Outlook, BP’s researchers forecast a fundamentally changed transportation industry, with more travel but less private cars and increased efficiency standards. In fact, by the late 2030s, autonomous and electric vehicles would cause a dip in fuel demand and the first-ever predicted peak oil use. Plastic manufacturing is expected to become a source of growth for the oil industry as its role in ground transportation diminishes.
To read the story from Reuters, click here.