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Green Impact: Electric Cars Saving 1.8 Million Barrels of Oil Every Day

In the landscape of emerging electric vehicles (EVs), a quieter revolution is underway — one that isn’t often in the headlines but holds significant implications for our oil dependence. According to BloombergNEF (BNEF), the surge in electric two-wheelers and three-wheelers has proven an unexpected hero in the realm of curbing oil consumption.

Despite the global anticipation surrounding passenger electric cars, trucks, and SUVs, BNEF’s recent analysis unveils a surprising reality: electric two-wheelers and three-wheelers are contributing nearly twice the reduction in oil burning compared to their four-wheel counterparts. The figures, indeed, astound — approximately 1.8 million barrels of oil are sidestepped daily, majorly by these smaller electric vehicles.

Here’s what BloombergNEW reported, “Global oil demand for road transport is expected to reach roughly 42.3 million barrels a day in 2023, a slight increase over the past year.”

While electric cars often grab the limelight, this underlines a critical oversight in our coverage — a market less explored yet significantly influential in global oil consumption. The staggering impact extends beyond mere fuel savings; it’s a gateway to monumental environmental gains.

Reduced oil combustion means a parallel drop in CO2 emissions, a vital metric in the fight against climate change. BNEF’s estimates highlight the profound impact: a net reduction of 112 million metric tons of CO2 emissions annually. This figure, a result of EV adoption, accounts not only for reduced tailpipe emissions but is also comprehensive, considering the emissions generated from increased electricity production to power these vehicles.

As electric vehicles continue their ascent, these revelations underscore the multidimensional impact of their proliferation. Beyond their day-to-day performance and eco-friendliness, they’re proving to be potent players in reshaping the global energy landscape, offering promising solutions to oil dependency and environmental concerns.

Author: Madison Cates

Title: Managing Editor


Research journalist, Freelance writer, Managing editor

  • Expertise: automotive content, trending topics.
  • Education: LeTourneau University, Bachelors of Science in Business Administration.
  • Over 400 articles and short news pieces published across the web.

Experience: Madison Cates is a journalist located in the great state of Texas. She began writing over eight years ago. Her first major research piece was published by the Journal of Business and Economics in 2018. After growing up in a household of eight brothers and a dad who was always restoring old Camaros, she naturally pivoted her freelance career into the automotive industry. There, she found her passion. Her experience paved the way for her to work with multiple large corporations in automotive news and trending topics. Now, she now finds her home at Wealth of Geeks where she proudly serves as Managing Editor of Autos. Madison is always down to geek out over the latest beautiful cars on the market, and she enjoys providing her readers with tips to make car ownership easier and more enjoyable.

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