...The fleet of electric vehicles in use worldwide is on track to displace around 100,000 barrels a day of road transport fuel this year -- most of it gasoline -- according to a report published last month by Bloomberg New Energy Finance. They expect that volume to rise to 155,000 barrels a day next year.
To be sure, that is a tiny volume compared with global gasoline consumption that was reported by BP Plc at more than 25 million barrels a day in 2016, but that misses the point. It is at the margin where the growing fleet of electric vehicles will make its presence felt.
Take Tesla Inc.'s Model 3 as an example. Once delivered, the current order book of 455,000 cars will displace some 18,000 barrels a day of gasoline demand,
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