NO OIL FUTURE 2040
BLOOMBERG - The global transition to electric vehicles and renewable sources of power will see oil company revenue plummet.
The rollout of 540 million electric vehicles by 2040 will cause oil demand to peak in the mid-2020s, slashing income by $19 trillion, according to Oxford, England-based Aurora Energy Research Ltd. Gas and power will provide more than half of final energy consumption, up from 39 percent currently.
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