From Ray Wills
World 1.5MBPD oil displaced by EVs in 2024 China in 2025 Oil market not about the 100 mbpd we use, but the 1-2 mbpd YOY change Oil markets break on variations > 1-2MBPD [Highly inelastic demand] China's vehicle fleet electrification has just removed 250ML/day of China's demand - or >1.5MBPD
From The Driven
#Iran war highlights how #oil has become the Achilles Heel of the global #economy. EVs have already avoided equivalent of 70 pct of Iran's exports, and could do more.
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