The Other Peak Oil: Demand From Developed World Falling

OIL HALT: Demand for oil in developed countries could be passed its prime.
WIKIMEDIA COMMONS/FLCELLOGUY

From Scientific American:

Oil demand in industrialized countries peaked in 2005 and will not reach that high again, a new report predicts.

Demand for oil in developed nations peaked in 2005, and changing demographics and improved motor-vehicle efficiency guarantee that it won't hit those heights again, IHS Cambridge Energy Research Associates says in a new report.

Reduced petroleum demand in developed nations could make their economic growth less vulnerable to oil price shocks, the report states.

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