How Electric Cars Just Wiped Out 3.5 Million Barrels of Oil a Day
Really good article here guys posted shockingly on inside EVs by Suat Kutari. Now Subat says that what has happened here in the US is EVs are being punished by the Trump administration by Republicans not just EVs but obviously clean energy as well. But it does not matter. EVs will decimate big oil. It doesn’t matter what Trump does. Even without US tax credits, this will happen. It is inevitable. Hello, my friends. Welcome to the channel. I’m Sam Evans. Great to have you with us. What are we talking about here? What is Subat saying? Well, America just handed a victory to the fossil fuel industry by passing the ludicrously stupid Trump administration’s big, beautiful bill, which sounds as ridiculous. It is as ridiculous as it sounds, I should say, in both the House and the Senate. Guys, I legitimately didn’t think this bill would get passed. I thought surely there are some Republicans that are not dumb enough to put this through, and they did. There must be huge pressure on them because it’s a it’s the most ridiculous spending bill I’ve ever seen. What was the point of Doge? What was the point of this whole Department of Government efficiency if they’re going to go and spend all this money on old tech? It’s crazy. Is Trump simply paying off all the people who helped him to be elected? Probably. Anyway, Subat says this, don’t mistake that for a turning point in the global trajectory of clean transport. The future of zero emissions road travel isn’t stalling, it’s still accelerating. Despite the latest setback to EVs in Washington DC, the world remains on track for sustained EV adoption. And Suat’s right, this year, electric car sales have grown by more than 30% worldwide. If you remove the United States and Canada from the situation, if you get rid of them, just pretend they don’t exist, the world’s actually grown EV sales by more than 36% this year. For starters, says Suat, the bill ends the federal tax credits though in the US, putting the US back into the dark ages in some ways for clean energy programs such as solar, wind, and electric vehicles years ahead of schedule. It gives tax breaks to oil and gas companies for drilling and development costs. US companies are now also free to leak as much methane, a hazardous planet warming greenhouse gas as they want to into the atmosphere for another decade, throwing out a B administration penalty on methane emissions. And the truth is actually methane emissions are probably the worst kind kind of emissions on the planet. They’re causing immense damage. It sounds bad and yeah, it is. Climate scientists and environmentalists have warned the bill will seriously harm air quality. I personally think air quality is linked to the enormous rise in cancers worldwide. Uh we just found out today that the growth in prostate cancer, 500% growth in 30 to 39 year olds worldwide, 173% growth in colurectal cancer. Uh 30 to 39 year olds is similar for many cancers. Pancreatic cancer 200% growth in 30 to 39 year olds. I think the air quality is a big part of the reason why this is happening. This will also jeopardize public health and accelerate planet warming by encouraging more fossil fuel use, especially in the United States. Anyway, the rest of the world is looking at America just going, “Uh, yeah, you guys, you’re going to go back to the agrarian days, right? Pre-industrialization or something like that.” Anyway, so according to research firm Bloomberg NEF’s electric vehicle outlook 2025, which I just had a look at, there is actually reason to, well, think positively about where the planet is going. In spite of what the United States is doing, EVs will continue displacing millions of barrels of crude oil each year. And in addition, the world has hit peak coal. We reached that point actually probably in around February or March this year and coal demand has begun slowing. The only country in the world that’s actually increasing its coal demand right now is India. Everywhere else it’s declining. Getting back to electric cars, even if the US slowdown results in 14 million fewer EV sales globally by 2030, which it could, the broader transition towards cleaner energy will continue to march on across the world. America be damned. In fact, the future of the oil and gas industry is looking rather bleak. Even though it managed to bag a chest thumping victory, says Surv this week in the US with the passage of the Trump administration’s big, beautiful bill, that victory will only give petroleum companies shortterm benefits. It won’t last in the long term. Over the long term, oil consumption is still on track to go down enormously and EV sales are expected to grow with new and more competent models. Guys, if you’re new to the channel and you don’t believe this, maybe you should look at what the Chinese well the largest oil company in China is saying. They’re saying oil demand will continue to fall and the pace that it falls over the next 5 to 10 years will only increase every single year. Yes, it’s true. We need oil for stuff, making plastics, but not for cars, not for trucks, not even for shipping either. According to BNEF’s economic transition scenario, the first million daily barrels of road fuel displacement happened in 2018 thanks to adoption, early adopters of EVs, which we we owe something to because they’re the ones who had to pay the high price. EVs were expensive back then and they weren’t that good. Now, they’re incredibly good and they’re not expensive. Owners who bought EVs stopped visiting gas stations, meaning the petroleum companies started losing those regular customers. And that transition has been speeding up. Studies show the vast majority of car buyers who make the switch to EVs never return to internal combustion. Regardless of what the media, the stories they try to spin, they never do. It took another six years for the next million barrels of road fuel to get displaced. By 2024, the world was displacing 2 million barrels of fuel every single day. For reference, that’s equal to how much the whole of South Korea uses in a single day, says inside EVs. By the end of the decade, EVs are expected to displace more than 5 million barrels of fuel every single day. For context, the US consumed around 20 million barrels of oil oil daily in 2023. That’s for the entire country. Had the clean energy policy survived, what would the difference have been? Well, that number would have dropped even quicker. But with Europe and China and to be honest many places, Mexico, Southeast Asia, Thailand, with them charging ahead with EV adoption, the US will be just left behind. The decline in oil demand that’s been projected by experts means the world’s leading oil producers are now looking at EVs. They’re looking at renewables. They’re basically a lot of them are actually buying renewable energy projects, purchasing big batteries. Big oil though has big plans to become big EV, said Business Insider in 2023. The torchbearers of fossil fuels are already making huge bets on EV charging and mining lithium, which is obviously used in EV batteries. That said, let’s see how long that lasts considering the fact that sodium is now well very cheap and abundant and sodium could be a main source for EV batteries over the next 10 years. Chevron though said in June it had acquired 125,000 hectares of land in Texas and our Kansas for lithium extraction. BP is purchasing charging hardware from Tesla and LPronic and Shell Recharge, the oil company’s charging division, is investing in charging stations worldwide. It opened its largest charging station in Shenzhen in 2023 with 258 fast charging stalls at just one location. Guys, I’ve been using BP fast chargers all across Australia on my recent road trip. They’re everywhere. AOL has done the same thing. The global momentum for EVs and other forms of clean energy means oil displacement will continue to grow regardless of what the United States or Donald Trump does. Could we do better, much better if the US was on board? Absolutely. Even though Washington DC might be currently celebrating their fossil fuel party, well, the long-term fate of that industry has been decided. The only question remaining is really the fate of the US economy. What will happen to the manufacturing jobs if car companies don’t transition to EVs? What happens to all the power plants that use coal? What happens to really demand for Americanmade products when other countries are moving on to the future and the US is staying in the past? That’s what most concerns me. I’m concerned that millions of jobs in the United States will be lost, particularly to China. Was that inevitable? Was that going to happen anyway? Maybe. But honestly, it feels like that’s all been sped up. Let me know how you feel about this in the comments. Bye-bye. [Music]
How Electric Cars Just Wiped Out 3.5 Million Barrels of Oil a Day
Electric vehicles are now displacing an estimated 3.5 million barrels of oil per day, thanks to surging global adoption, especially in China, Europe, and the U.S. This shift is being driven by EVs replacing traditional ICE vehicles in both passenger and commercial segments. According to recent data, that figure could double by 2030, marking a major blow to long-term oil demand.
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