Forget Tesla, It’s China’s E-Buses That Are Denting Oil Demand

Excerpts:

By the end of this year, a cumulative 270,000 barrels a day of diesel demand will have been displaced by electric buses, most of it in China, according to a report published 19 March by BloombergNEF. That’s more than three times the displacement by all the world’s passenger electric vehicles (a market where Tesla has a share of about 12 percent.).

By 2040, electric vehicles could displace much as 6.4 million barrels a day of demand, while fuel efficiency improvements will erase another 7.5 million barrels a day, according to BloombergNEF’s May 2018 long-term EV outlook.

www.bloomberg.com/news/articles/2019-03-19/forget-tesla-it-s-china-s-e-buses-that-are-denting-oil-demand

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