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Riding the Energy Transition: Oil Beyond 2040

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Document pages: 43 pages

Abstract: Recent technological developments and past technology transitions suggest that the worldcould be on the verge of a profound shift in transportation technology. The return of the electriccar and its adoption, like that of the motor vehicle in place of horses in early 20th century,could cut oil consumption substantially in the coming decades. Our analysis suggests that oilas the main fuel for transportation could have a much shorter life span left than commonlyassumed. In the fast adoption scenario, oil prices could converge to the level of coal prices,about $15 per barrel in 2015 prices by the early 2040s. In this possible future, oil could becomethe new coal.

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