<ul data-eligibleForWebStory="false">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.