How would an accelerated energy transition impact natural resource demand? (https://www.mckinsey.com)

...we’ve identified eight potential shifts that could further accelerate the energy transition. Although these eight shifts may not represent the most probable future, they should be considered conceivable based on the developments that can be observed today:

• Shift 1: Faster uptake of electric vehicles (EVs). Accelerated EV uptake—to 100 percent for vehicle fleets in China, Europe, and North America and 50 percent in the rest of the world by 2050—minimizes demand from road transport, today’s biggest oil demand sector
• Shift 2: Improved efficiency gains and increased uptake of low-emission fuels for aviation and marine. Meeting the aviation and marine transport sectors’ 50 percent emission- reduction targets adversely affects oil demand growth
• Shift 3: Accelerated electrification of residential heat. Heating 50 percent of the homes in Europe and North America with electric heat pumps by 2050 slows down global gas demand growth
• Shift 4: More rapid electrification of cooking in non-Organization for Economic Co-operation and Development (OECD) Africa and Asia. Accelerated electrification of cooking strongly increases power demand growth
• Shift 5: Increased demand reduction and recycling of plastics. Plastic bans, more efficient use of plastics, the replacement of plastic with alternative materials, and recycling affect demand for petrochemicals, the largest driver of global oil demand growth
• Shift 6: More efficiency gains, recycling, and low-emission feedstock in iron and steel production. Improvements in energy efficiency and the carbon intensity of iron and steel production decreases industrial coal demand globally
• Shift 7: More extensive electrification of EU industry low- and medium-temperature heat. Electrification of low- and medium-temperature heat in Europe reduces gas demand for the third largest sector in the region
• Shift 8: Accelerated cost reduction for renewables and storage. Renewables and battery storage become the cheapest power source at scale, outcompeting fossil fuels