“Earlier this month, Chinese oil giant Sinopec made a surprise announcement that mostly flew under the radar. It's now expecting gasoline demand in China to peak this year, two years earlier than its previous outlooks.

The main culprit? The surging number of electric vehicles on the road.

As I've written previously, calling peaks is often a no-win endeavor for industry analysts.

The call will either be correct but seem obvious after the fact, or wrong and lead to years of mockery. But this isn't an analyst calling a peak; it's China's largest fuel distributor. Sinopec knows the fuel business, and more importantly, it has an interest in the business remaining robust. Saying it's all downhill from here for gasoline is quite a statement.”

This is extremely good news for future profit sharing and the air lines in general.

Electric cars are in the vertical part of the “S” curve.