| ▲ | soco 2 hours ago | |
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). | ||
| ▲ | realityking 14 minutes ago | parent | next [-] | |
Trucks and buses are starting to be electrified as well. Some boating as well but that‘s a rounding error. | ||
| ▲ | toomuchtodo 3 minutes ago | parent | prev [-] | |
Every 24 months of EV production in China destroys 1 million barrels a day of global oil demand, as of this comment, at current rates of EV production. Total annual light vehicle sales are ~90M units. Globally, over 1-in-5 (22%) of new cars sold were electric in 2024. This share was 92% in Norway, and in China, it was almost 50%. In 2025, it was 1-in-4 (25%). The world has 20-30M units/year of EV manufacturing capacity. Like bankruptcy, the change happens slowly, and then all of a sudden. | ||