I know that in addition to driving gas cars, drilling fossil fuels takes a toll on the environment as well. How many barrels of oil do electric cars save?
Reviewed by Shannon Martin, Licensed Insurance Agent.
Along with the current trend, the National Observer states that by 2030 electric vehicles could save up to 2 million barrels of gasoline per day.
With the rise of the EV industry comes a subsequent drop in the demand for oil and natural gas. Hybrid cars still require gasoline but their smaller, more efficient engines would result in a significant reduction in demand. A sharp rise in EVs would cause a sharp decline in the demand for oil. S&P Global shares that the U.S. demand for oil could drop 25% by 2050.
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