Chinese Electrics Buses making a dent in Worldwide Oil Demand

With electric cars gaining popularity, its effect on global oil demand is also increasing, however new research suggests that electric buses have made a much bigger dent in oil demand since implementation.

Electric vehicles have displaced approximately 3% of total oil consumption growth (since 2011) with more than ¾ of oil displacement attributed to electric buses. Research suggests that for every 1,000 buses, 500 diesel barrels are displaced every day. The same number of electric cars only displaces 15 barrels a day.

Most of this uptake has occurred in China, with 99% of the world’s electric buses (385,000 buses) being located and used in China. The City of Shenzhen, for example, completely electrified their 16,000 bus fleet in 2017, which has dramatically aided in the reduction in oil demand.

expo_2010_electric_bus

Overall gas and diesel displacement will increase 96,000 barrels a day due to electric vehicles, making the lost cumulative demand 352,000 barrels a day since 2011. However global oil demand is still rising, growing 12 million barrels a day over the same time span. In the future, with uptake and advanced technology, electric vehicles could displace 6.4 million barrels of demand each day by 2040.

China, is not the only country making a move towards electric transport, with Delhi in India ordering 1,000 electric buses, noting that this will be the “largest commitments so far by any Indian city and from any city outside of China”.

As a whole 12 major global cities have agreed to buy only electric buses from 2025. This proves the trend is rising, with more uptake set to help cut air pollution and noise pollution, which not only have environmental benefits but also health benefits to cities and residents.

The full article can be found here: https://electrek.co/2019/03/20/chinese-electric-buses-oil/

MP

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