background image

Electric vehicles no magic bullet for curbing oil demand

author image

By illuminem briefings

· 2 min read

illuminem summarizes for you the essential news of the day. Read the the full piece on Forbes or enjoy below

🗞️ Driving the news: Despite the increasing adoption of electric vehicles (EVs), countries with high EV sales are not seeing significant drops in oil consumption
• Norway, with EVs making up 80% of car sales in 2021, still shows stable gasoline and diesel consumption

🔭 The context: While there's an EV boom, the overall number of EVs in use is still much smaller compared to traditional combustion engine vehicles
• Factors include the continued use of traditional vehicles, challenges in electrifying heavy-duty transport, and the ongoing demand for oil in industries like aviation and petrochemicals

🌎 Why it matters for the planet: This underscores the need to address the entire transportation ecosystem, from passenger cars to heavy-duty vehicles, ensuring that environmental strategies are comprehensive and truly effective in reducing carbon emissions globally

⏭️ What's next: Analysts predict a gradual plateau in oil demand rather than a sharp decline
• Organizations like the International Energy Agency see the peak coming later this decade, while OPEC forecasts it around 2045

💬 One quote: "The U.S. and global economies will continue to need oil products for decades," (Dan Eberhart, journalist)

📈 One stat: Norway's road fuel sales were approximately 62,000 barrels daily in the first half of 2023, only a 10% drop from figures between 2017 and 2019

Click for more news covering the latest on sustainable mobility

Did you enjoy this illuminem voice? Support us by sharing this article!
author photo

About the author

illuminem's editorial team - providing you with concise summaries of the most important sustainability news of the day.

Follow us on Linkedin, Twitter​ & Instagram

Other illuminem Voices

Related Posts

You cannot miss it!

Weekly. Free. Your Top 10 Sustainability & Energy Posts.

You can unsubscribe at any time (read our privacy policy)