Fossil Fuel is under siege from EVs, perhaps even more than we thought

A new study argues that the worldwide transition to Electric Vehicles will cut global oil use by a million barrels per day and put “half of global oil demand at risk.”

Electric Vehicles could make up 86 percent of all car sales worldwide by 2030, and the impact on the fossil fuel industry would be dramatic: a million fewer barrels per day of oil will be needed by the global market, according to a study by an environmental think tank.

The Rocky Mountain Institute’s report, published last week, is perhaps the most bullis…