“Peak oil,” a concept introduced by M. King Hubbert, is the point at which global oil production reaches its maximum level and begins to gradually decline over time. Over the years, there have been numerous predictions: the International Energy Agency (IEA) estimated in the mid-2000s that peak oil was imminent and could occur by 2012; the UK Energy Research Centre and the University of Oxford placed peak oil between 2015 and 2030. However, more recent studies have pushed this date further ahead.
“Peak oil” is linked to the progressive depletion of oil reserves and the increasing difficulty in finding easily accessible and high-quality oil. The correlation with electric mobility lies in the fact that the transportation industry is heavily dependent on petroleum-derived fuels like gasoline and diesel to power traditional motor vehicles. With the advent of peak oil and its consequences, such as rising costs and oil scarcity, electric mobility represents a sustainable and efficient alternative.