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April 29, 2018 | Electric Buses Helping Air and Hurting Oil Demand

Danielle Park

Portfolio Manager and President of Venable Park Investment Counsel (www.venablepark.com) Ms Park is a financial analyst, attorney, finance author and regular guest on North American media. She is also the author of the best-selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," and a popular daily financial blog: www.jugglingdynamite.com

Millions of deaths each year from air pollution are driving city governments to zero-emission public transportation.  With the largest population and worst air pollution in the world, China is now leading the way in adding an estimated 9,500 zero-emissions buses every 5 weeks.  Since conventional buses consume 30 times more fuel than average sized cars, the impact on energy use is much greater than electric passenger sedans.  The drop in oil demand is compunding.  See: Electric buses are hurting the oil industry

For every 1,000 battery-powered buses on the road, about 500 barrels a day of diesel fuel will be displaced from the market, according to BNEF calculations. This year, the volume of fuel not needed may rise 37 percent to 279,000 barrels a day because of electric transport including cars and light trucks, about as much oil as Greece consumes, according to BNEF. Buses account for about 233,000 barrels of that total.

Other cities are taking notice. Paris, London, Mexico City and Los Angeles are among 13 others that have committed to only buying zero emissions transport by 2025.  It’s about time!

Here is a direct video link.

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April 29th, 2018

Posted In: Juggling Dynamite

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