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China's E-Buses Dent Oil Demand More Than Electric Cars Do (bloomberg.com)
China's fleet of electric buses appear to be denting oil demand more than electric cars. "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," reports Bloomberg, citing a new report published 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)." From the report: Despite rapid growth, the impact on the oil market from electric vehicles remains relatively small. Collectively, buses and electric vehicles account for about 3 percent of oil demand growth since 2011, and 0.3 percent of current global consumption, according to BloombergNEF figures and data from the International Energy Agency. Buses matter more because of their size and constant use. For every 1,000 electric buses on the road, 500 barrels of diesel are displaced each day, BloombergNEF estimates. By comparison, 1,000 battery electric vehicles remove just 15 barrels of oil demand.
Still, the EV market's impact on oil consumption is only going to grow. 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.
Still, the EV market's impact on oil consumption is only going to grow. 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.
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.
So what influence will this have at that point and into the future on the value of the US dollar, or that portion of the USD's value as the exchange currency for oil?
Some of the largest wind farms too. They have eight of the world's ten largest onshore facilities, including all of the top five. Sure, China still uses a LOT of coal, but they're also provisioning renewable power far, far, faster than anyone else.
UNIX? They're not even circumcised! Savages!
Because you're seeing only what you went looking for. China is a complex place with more than a billion people. There's lots that's wrong about it, and some things that are right. One of the things that's right is that they are making rapid progress on EVs and renewables. Stop whatabouting, you're getting it all over your shoes.