But, how much of the extracted oil becomes ICE fuel? Because other transports cannot be converted that quick (air, sea...) and most if not all petrochemical industries will still need to exist even if all cars drive electric. So how big will be the effect of crashing fuel demand?

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Symbiote 2 hours ago | parent [-]

25% of oil production is for cars

16% for trucks and buses

7% for aviation

4% for shipping

2% for rail and domestic waterways

25% + a chunk of the 16% (city buses, shorter distance or smaller trucks, etc) is a good amount.

https://www.statista.com/statistics/307194/top-oil-consuming...

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soco 2 hours ago | parent [-]

You mean a good amount of the 46% consumed by road transports. So my napkin says, when we all switch to driving EV the oil demand will drop by 15%. It's something for sure, but not overly dramatic (to me).

	▲	toomuchtodo a few seconds ago \| parent \| next [-]
		Every 24 months of EV production in China destroys 1 million barrels a day of global oil demand.
	▲	realityking 11 minutes ago \| parent \| prev [-]
		Trucks and buses are starting to be electrified as well. Some boating as well but that‘s a rounding error.