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I know this has been a topic of discussion since the early 90s but for whole other reasons that we might run out of oil. I would like to bring another argument here, that we are at the end of the oil age not because we have run out of oil but because we just won't need as much of it anymore.
According to statistics, we use oil for gasoline/diesel transport around 55-70% of it. While the remaining 30-45% is everything else from products to lubricants to high octane kerosine and anything else.
But there is a trend that EVs adoption seems to be increasing in pace against our wildest imaginations with China and Europe taking the lead. And the tempo seems to be only accelerating world-wide. The only major economy slow at adopting this is America and Russia.
Share of EV sales compared to ICE(combustion engine):
Trend in 2025:
Snapshot electric vehicle sales in Q1 2025 vs Q1 2024, YTD %
This will put the sales at roughly 30% of total if the trend keeps up in 2025.
Right now we are still not feeling the decrease of oil consumption from it that well since the numbers started spiking fast in 2020 but it seems in the next 1-2 the drop will start and in 5 years from now severe drop in oil consumption will start.
Source: https://rhomotion.com/
rhomotion.com
According to statistics, we use oil for gasoline/diesel transport around 55-70% of it. While the remaining 30-45% is everything else from products to lubricants to high octane kerosine and anything else.
But there is a trend that EVs adoption seems to be increasing in pace against our wildest imaginations with China and Europe taking the lead. And the tempo seems to be only accelerating world-wide. The only major economy slow at adopting this is America and Russia.
Share of EV sales compared to ICE(combustion engine):
Trend in 2025:
Snapshot electric vehicle sales in Q1 2025 vs Q1 2024, YTD %
- Global: 4.1 million, +29%
- China: 2.4 million, +36%
- Europe: 0.9 million, +22%
- North America: 0.5 million, +16%
- Rest of World: 0.3 million, +27%
This will put the sales at roughly 30% of total if the trend keeps up in 2025.
Right now we are still not feeling the decrease of oil consumption from it that well since the numbers started spiking fast in 2020 but it seems in the next 1-2 the drop will start and in 5 years from now severe drop in oil consumption will start.
Source: https://rhomotion.com/

Global EV Sales Up 29% In 2025 From Previous Year
Rho Motion, the leading EV research house, today revealed that the number of electric vehicles sold globally in March 2025 is 1.7 million, with 4.1 million sold in Q1 2025. The EV market grew by 29% in March 2025 compared to March 2024, and increased by 40% compared to February 2025. Rho Motion...

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