A 2014-style oil price meltdown could occur again. Only this time, instead of a sudden surge of supply, the culprit will be the fast adoption of electric vehicles, which will cut into oil demand enough to cause prices to fall. That prediction comes from Carbon Tracker , a think tank that has repeatedly warned about the prospect of fossil fuel “stranded assets,” due to the rise of clean energy and increasingly restrictive climate policy. In its latest report, Carbon Tracker envisions a scenario in which 2 million barrels per day of oil demand are erased by 2025 because of the penetration of EVs in the transportation sector. Reducing global oil demand by 2 mb/d may not seem like much, but it is equivalent to the supply overhang that triggered the 2014 oil price meltdown. It does not take a massive discrepancy between supply and demand to crash prices. The […]