Can renewable energy reduce the demand for crude oil: An analysis?

Abstract

Demand for crude oil will plateau by 2040, where India will be the highest consumer with growing population, the whole world is dependent on crude oil, which dominant the world. Rise of price and petrol have an effect on every person. Oil is used in more than 6000 product which are part of our daily use from cell phone to tooth paste, curtains, electronic, make up products. Even for the construction of solar panels and wind tribunals component of oil is required. Electric vehicles require oil for their construction, oil has not yet found any alternative. It will take 25 years have all the transport running of electricity, which requires huge infrastructure, strong power grid to be formed. Drill and more exploration is taking place to take out oil, Google, Amazon and Microsoft have collaborate with the fuel industry for more drilling to take out oil and gas. There is being a reducing in the use of plastic bags, electricity is being produced using renewable energy, green technology, we have green building and adopting a nature based solution to become a carbon neutral world, well that can be applied in the case of electricity production which has helped India to electrified many of its villages and bring in electric vehicles. Even after this the oil industry will continue to dominant for the next 50 years or even more.