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Electric Vehicles: An Analysis of Adoption and the Future of Oil Demand

15 May 2023 | Abstracted from WE Forum

"A standard combustion engine passenger vehicle in the U.S. uses about 11 barrels of oil equivalent (BOE) per year. A motorcycle uses 1, a Class 8 truck about 24, and a bus uses more than 258 BOEs per year.

"Since 2015, two and three-wheeled vehicles, such as mopeds, scooters, and motorcycles, have accounted for most of the oil saved...displaced the demand for almost 675,000 barrels of oil per day in 2015. By 2021, this number had quickly grown to 1 million barrels per day."



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