EVs to displace over 5 million bpd of oil demand a day by 2030: IEA report
1 year, 8 months ago

EVs to displace over 5 million bpd of oil demand a day by 2030: IEA report

Live Mint  

Electric vehicles are set to displace over 5 million barrels of oil demand per day based on current policy settings, according to the International Energy Agency. The IEA, in its recent report titled ‘Global EV Outlook 2023’, claims that at the global level, oil displacement by EVs reaches 1.8 million barrels per day in 2025 and 5 mbpd by 2030 under stated policies. Road transport account for over 40 per cent of global oil demand, but electric cars are driving a major transformation of the auto industry, said the Paris-based agency gathering of the 31 mostly industrialised countries and much of the European Union. Although electric SUVs represented roughly 35 per cent of all electric passenger light-duty vehicles in 2022, their share of oil displacement was even higher, as SUVs tend to be driven more than smaller cars.

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History of this topic

‘Drill, baby, drill’ is the new mantra of Big Oil – and now it’s coming after EVs
1 week, 1 day ago

‘Drill, baby, drill’ is the new mantra of Big Oil – and now it’s coming after EVs

The Independent  

Have you ever gone back over your new year’s resolutions from years ago and just thought, “What was I thinking?” Over the last year, it seems that Europe’s biggest oil corporations did just that. Suppliers are planning to flood the market seemingly right up until the sea level rise literally inundates many of the world’s major oil ports Similarly, Shell …

Driving an EV? Big oil hopes you don’t cut down on plastic too
3 weeks ago

Driving an EV? Big oil hopes you don’t cut down on plastic too

Live Mint  

Career advice given to Dustin Hoffman’s aimless character in “The Graduate" turned out to be pretty solid. Because of Europe’s high energy costs and reliance on oil for feedstock, plants in the region can only produce petrochemicals at $750 a metric ton, says Irene Himona, European oil and gas analyst at Bernstein. Earlier this month, countries that rely on oil …

Sufficient Nickel, Lithium for 14 Million Electric Vehicles in 2023
2 years, 8 months ago

Sufficient Nickel, Lithium for 14 Million Electric Vehicles in 2023

News 18  

Data shows there is enough nickel and lithium to produce up to 14 million electric vehicles globally in 2023, so Europe should secure more raw materials to shift away from oil faster, campaign group Transport and Environment said. In a study based on BloombergNEF data on global maximum volumes of EV battery-grade nickel and lithium, T&E said that in 2025 …

EVs to Cost as Much as Petrol Powered Cars in 2 Years: Nitin Gadkari
2 years, 11 months ago

EVs to Cost as Much as Petrol Powered Cars in 2 Years: Nitin Gadkari

News 18  

Even while the Centre and state governments continue to encourage vehicle owners to use electric cars, the electric vehicle market in India continues to be a minor fraction of the country’s overall motor vehicle sales. Now, in an exclusive interview with News18 Union Road Transport and Highways Minister Nitin Gadkari has said that India is only one EV revolution away …

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