According to experts in the field, the increase in sales of electric cars in recent years has led to predictions about when the global dominance of oil will end. Public subsidies and improved technology are helping consumers cope with the eye-popping prices of battery-powered cars.
Transportation is responsible for about 60% of global oil demand, with the US alone accounting for about 10%. That share is set to drop, as experts expect electric cars to eliminate nearly 5 million barrels of global oil demand per day by 2030.
