"Aramco, on the prospectus for its 2019 initial public offering, warned that oil demand might peak within 20 years."<p>From what I read, it's going to be more like ten years from now. That because in a another two or three years, battery prices will be low enough that ev sticker prices will match ice ones, and that plus public policies will lead to ev sales skyrocketing and ice sales plunging.<p>Saudi Arabia knows the big transition is coming, and is working as fast as it can go get its economy out of oil. I don't see how it is going to be able to do this fast enough to avoid financial disaster.