⚡Quick Takeaways Box
- Global Impact: EV adoption displaces millions of barrels of oil daily
- Charging Growth: Major oil companies investing in EV charging networks
- Future Trends: Estimated displacement of 5 million barrels/day by 2030
- U.S. Policy: Trump’s recent bill removes EV incentives; effect temporary
- Environmental Gains: Significant carbon emission reductions from EVs
Despite the recent passing of President Trump’s “Big Beautiful Bill”, the world’s adoption of EVs is picking up pace to reduce oil production and air pollution. In fact, despite the adoption of the recent bill in America, zero emission travel is expanding as the world accepts EVs.
According to research by BloombergNEF, the use of electric vehicles is already displacing millions of barrels of oil each day, saving millions of metric tons of carbon dioxide from escaping into our atmosphere. In fact, the report tells us that the world is on track for continued EV adoption.
Make no mistake that Trump’s bill will have a negative effect on a cleaner America. The bill will end federal tax credits for such clean energy programs as solar, wind, and electric vehicles and it gives tax breaks to oil companies for drilling and development projects.
While climate scientists have warned that the effects of the bill could accelerate global warming, harm air quality, and contribute to poorer health for Americans, the BloombergNEF report suggests reasons for optimism due to a worldwide transition toward cleaner energy in many ways.
Looking toward the next decade, automakers are planning to continue the push toward more practical, less expensive electric vehicles that use cleaner solid state batteries for more range and longer life. As more people everywhere adopt EVs, we will see a massive reduction in oil and gasoline consumption.
Driving Past Gas Stations
For the last ten years, early EV adopters have realized that they never have to stop at a gas station again and the vast majority of today’s EV owners say that they would never go back to purchasing a gas car. Think about what that means for the future of gas cars.
As more people turn to hybrid or plug-in hybrid cars, they also use less gasoline. According to BloombergNEF’s economic transition scenario, early EV adopters caused a saving of the first million barrels of oil per day back in 2018. Oil companies realized that they were losing regular customers. Within six years, another million barrels of oil per day was displaced so that by 2024 the world had displaced two million barrels of oil per day. Yes, per day!
Oil Giants Shift Gears: From Gas Stations to EV Charging
The use of EVs is predicted to displace and estimated five million barrels of oil per day by 2030. Oil companies have realized that they are losing regular customers and, according to Business Insider, are transitioning toward business in EV charging.
Shell Oil has started Shell Recharge, investing heavily in creating charging stations worldwide. In 2023 it opened a 258 DC fast charging stall facility near the airport in Shenzhen, China. The facility charges 3,300 EVs per day and includes a café, convenience store, drivers lounge, and vending machines.
British Petroleum has started BP Pulse; a business focused on providing ultra-fast EV charging for consumers and commercial fleets. It plans on having over 100,000 operational chargers by 2030. And Chevron EV Charging Market is expanding to place charging stations in convenient locations in metropolitan areas, in part using its existing gas stations.
Though the “Big Beautiful Bill” may slow EV adoption in America for a bit, it will not stop it. The global shift to clean energy guarantees that oil displacement will continue to grow. The adoption of electric vehicles, changes in driving habits, and increased fuel efficiency is also on the rise here in the U.S.A. as gasoline consumption continues to drop and Americans just drive less.
📰 More EV News & Trends
Mercedes-Benz Will Launch a Global Charging Network Starting in the U.S.
Mercedes-Benz is set to launch a dedicated global EV charging network, beginning in America, enhancing convenience for EV drivers.
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GM Installing 40,000 Charging Stations Across North America
General Motors announces ambitious plans to install thousands of EV chargers throughout North America, significantly expanding infrastructure.
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Ford EV Owners Can Now Use Tesla Superchargers With a Free Adapter
Ford EV drivers gain access to Tesla’s Supercharging network using a free adapter, greatly expanding charging convenience.
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