EVs are avoiding about 3% of global oil demand—a fifth of Russia’s total exports
Russia’s ongoing invasion of Ukraine has triggered international sanctions throttling the country’s oil exports, leading to fears of even higher gas prices. But electric vehicle adoption has been helping make the situation less grim. Plug-in vehicles avoided roughly 1.5 million barrels of oil per day last year, according to new analysis from Bloomberg New Energy Finance.
The oil industry vs. the electric car
Electric vehicles could make up nearly half the fleet of passenger cars and trucks by 2040. But oil and gas companies are striking back. The oil industry is trying to crush the booming electric car movement. Groups backed by industry giants like Exxon Mobil and the Koch empire are waging a state-by-state, multimillion-dollar battle to
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