Magic No 25600, page-39

To balance Kriptic’s post about “ a world moving away from fossil fuels”, the latest US EIA figures predict world oil consumption breaking through the 100 million barrels of oil per day level later this year and forecast consumption of 101.95 million barrels per day by 2019.
World oil use has averaged 1.4% compound growth per annum over the last 40 years, and jet fuel growth is roughly at 2% growth.
I respectfully suggest electric vehicles will make only a minor difference to this continued growth of fossil fuel demand.
Unless oil companies start finding oil at a much faster rate than they have over recent years, there is nothing surer than a significant spike in oil price sooner or later.
When that will be is the debatable point.
Cheers, RWE.