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EVs Will Decimate Big Oil. Even Without U.S. Tax Credits.

  • Electric vehicles (EVs) are displacing millions of barrels of oil daily and reducing carbon dioxide emissions, regardless of U.S. tax credits.
  • Despite the U.S. passing a bill favoring fossil fuel industry, global adoption of EVs and cleaner energy sources continues to accelerate.
  • EVs are projected to displace over five million barrels of road fuel per day by the end of the decade, weakening the oil and gas industry.
  • Oil producers are shifting focus to EVs as the world embraces clean energy, with Big Oil investing in EV charging infrastructure and lithium mining.

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