It’s hilarious that in a thread about disinformation, there are folks spreading disinformation lol
Oil demand is up year over year.
The amount of EVs on the road barely registers on the demand for oil.
Oil is used in the production of damn near every product on earth including EVs.
Those big oil companies, have been investing in clean energy for 30 years now. They don’t care either way because they get money from clean energy and oil demand won’t disappear even if EVs are the dominate tech.
Will EV tech eventually impact oil companies? Yes, of course it will, but we are not even remotely close to that reality yet.
China is shifting production from fuel and into petrochemicals used to manufacture clean energy products. Each battery and solar panel they produce reduces fossil fuel demand.
Oil is used in the production of damn near every product on earth including EVs.
EV’s use a tiny fraction of the amount of petroleum used to fuel ICE.
It’s hilarious that in a thread about disinformation, there are folks spreading disinformation lol
Oil demand is up year over year.
The amount of EVs on the road barely registers on the demand for oil.
Oil is used in the production of damn near every product on earth including EVs.
Those big oil companies, have been investing in clean energy for 30 years now. They don’t care either way because they get money from clean energy and oil demand won’t disappear even if EVs are the dominate tech.
Will EV tech eventually impact oil companies? Yes, of course it will, but we are not even remotely close to that reality yet.
https://arstechnica.com/cars/2023/11/280-million-e-bikes-are-slashing-oil-demand-far-more-than-electric-vehicles/
Bloomberg says e-bikes are already displacing about 1% of global oil demand. That’s a lot of oil.
SINOPEC announced that oil demand had already peaked in China, so this trend is likely to reverse a lot sooner than expected.
https://www.bnnbloomberg.ca/chinese-oil-refiners-spend-heavily-to-tap-clean-energy-boom-1.2004676
China is shifting production from fuel and into petrochemicals used to manufacture clean energy products. Each battery and solar panel they produce reduces fossil fuel demand.
EV’s use a tiny fraction of the amount of petroleum used to fuel ICE.