Supply & Demand

IEA at odds with industry consensus on EV growth

Divergent forecasts of fossil fuel demand over the next 20-30 years reflect sharply different perceptions of how many electric cars will be on the roads Divergent forecasts of fossil fuel demand over the next 20-30 years reflect sharply different perceptions of how many electric cars will be on the roads.
By Peter Stewart 22 March 2017 0 25175
The IEA report says that, by 2050, seven out of 10 new cars will need to be electric. (Tesla)

The International Energy Agency (IEA) issued a report this week on the momentous scale of the energy transition that will be required by 2050 to limit the rise in global warming to below 2C. The report, Perspectives for the Energy Transition – Investment Needs for a Low-Carbon Energy System, was created in partnership with the International Renewable Energy Agency (IRENA) at the request of the German government to provide input for the G20 presidency.

The report said oil and particularly gas will play a...