RE:Peak oil (fear) replaced by peak oil (don't want)Dead Wrong, and here is why:
You see, that's the mentality that's put us where we are and it's blatantly wrong. EV's are not going to displace ICE's for decades to come. How have hybrids done since their inception? The Toyota Prius was introduced in 2000, 18 years ago, and still has minimal market adoption. How have they and EV’s done? See below:
‘Hybrid sales in the American market achieved its highest market share ever in 2013, capturing 3.19% of new car sales that year, and dropped below 2% by April 2016.’ Source: https://en.wikipedia.org/wiki/Toyota_Prius ‘Declining year-on-year increments are consistent with a growing electric car market and stock size, but the scale achieved so far is still small: the global electric car stock currently corresponds to just 0.2% of the total number of passenger light-duty vehicles (PLDVs)4 in circulation. Electric vehicles (EVs) still have a long way to go before reaching deployment scales capable of making a significant dent in the development of global oil demand and greenhouse gas (GHG) emissions.’ Source: https://www.iea.org/publications/freepublications/publication/GlobalEVOutlook2017.pdf 0.2% growth from 2010-2016 (0.0033% per year) is terrible! This means they won’t gain 1% market share until 2024! And assuming an aggressive DOUBLING of EV adoption every 6 years they won’t overtake the ICE until 2057. They are growing but people still love their gas-guzzlers. Not to mention, fuel will still be needed for chemicals, plastics, and airlines!
This is why I say the media has brain washed people out of oil & gas. Soon their eyes will be wide open and they will get back into this sector.