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Axios
Axios
Environment

EVs are shoving aside real volumes of oil, report shows

Oil BloombergNEF
Reproduced from BloombergNEF; Note: includes a small number of fuel-cell vehicles; Chart: Axios Visuals

Electric vehicles displaced roughly 1.5 million barrels per day of oil last year, new analysis shows, an amount slated to grow as EV sales keep rising.

Why it matters: The new estimates from the research firm BloombergNEF help to show EVs are shedding their status as a niche climate technology.

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