In a recent annual report, BP predicted that electric vehicle (EV) use will push the globe to peak oil use by the late 2030s. Though 2016 saw just 2 million EVs on the road, analysts say more than 320 million could be driving by 2040. Changes in the rate of EV growth as well as advances in battery technology have pushed BP’s predictions to adjust. As governmental regulation and economic forces catch up with the growth of EVs, will BP be forced to adapt again?
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