{"id":1999,"date":"2017-11-29T19:46:44","date_gmt":"2017-11-29T20:46:44","guid":{"rendered":"https:\/\/madaresharghi.com\/evs-may-displace-8-million-barrels-of-oil-a-day-by-2040\/"},"modified":"2017-11-29T19:46:44","modified_gmt":"2017-11-29T20:46:44","slug":"evs-may-displace-8-million-barrels-of-oil-a-day-by-2040","status":"publish","type":"post","link":"https:\/\/madaresharghi.ir\/en\/evs-may-displace-8-million-barrels-of-oil-a-day-by-2040\/","title":{"rendered":"EVs May Displace 8 Million Barrels of Oil a Day by 2040"},"content":{"rendered":"<p><a href=\"http:\/\/madaresharghi..com\">madaresharghi<\/a><br \/>\n<\/p>\n<p> \tElectronic vehicles have become a key element of the energy transition with an analyst at Bloomberg New Energy Finance expecting 530 million EVs on the road by 2040 to disrupt the global crude market.<br \/> \t&#8220;The implications for oil are significant, with the researcher expecting EVs to displace 8 million barrels of daily oil demand by 2040,&#8221; BNEF analyst Kobad Bhavnagri said in a conference in Shanghai, Bloomberg reported.<br \/> \tChina is not only interested in EVs for the domestic market, but the world\u2019s most-populous nation is aiming to become a globally competitive automaker by the 2020s with the latest EV technology. Long-term, EVs will likely account for 8% of total vehicle sales by 2025, 24% by 2030 and 54% by 2040, according to BNEF.<br \/> \t\u201cThe disruption will come very fast because of economies of scale,\u201d said Tomas Kaberger, chair of the executive board at the Renewable Energy Institute in Tokyo.<br \/> \tTechnology is always a topic of conversation in energy circles, especially among some energy economists and policymakers who say dramatic breakthroughs are needed to achieve the reduction in emissions needed to stave off the worst impact of global warming. But experts warn not to expect any huge development in the imminent future. Rather, clean energy technologies like solar and wind will continue to eke out gains by becoming cheaper and more efficient, or in the case of batteries, able to store more energy in the same amount of space.<br \/> \t\u201cWe are going to see continued industry-based learning that will bring down costs,\u201d Kaberger said.<br \/> \tOthers see the necessity for a bigger leap in technology.<br \/> \t\u201cWe need to see negative emissions,\u201d said Yukari Yamashita, a board member and director of energy data and modeling at the Institute of Energy Economics, Japan, who sees the need for new technologies such as space-based solar energy to close the gap.<br \/> \tIt comes as battery costs are coming down and energy densities are increasing. Battery pack prices fell about 74% from 2010 to 2016, according to BNEF. In turn, battery manufacturers are ramping up capacity, which is good news for Asia where most of the battery capacity is centered.<\/p>\n<p> \t\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>madaresharghi Electronic vehicles have become a key element of the energy transition with an analyst at Bloomberg New Energy Finance expecting 530 million EVs on the road by 2040 to disrupt the global crude market. &#8220;The implications for oil are significant, with the researcher expecting EVs to displace 8 million barrels of daily oil demand [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2,8],"tags":[296,118,28,31,159,639,178,56,213,84,95,82,68,22,23,27],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v15.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>EVs May Displace 8 Million Barrels of Oil a Day by 2040 - madaresharghi | An Analytical Look at Middle Eastern Developments<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/madaresharghi.ir\/en\/evs-may-displace-8-million-barrels-of-oil-a-day-by-2040\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EVs May Displace 8 Million Barrels of Oil a Day by 2040 - 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