• Alien Nathan Edward@lemm.ee
    link
    fedilink
    English
    arrow-up
    16
    arrow-down
    2
    ·
    10 months ago

    puts on plastic wrap hat

    EVs are starting to make a dent in the market place and oil demand is dropping because there are fewer cars on the road that use it, combined with the fact that the holiday travel season and its predictable effect on demand have ended

    • helenslunch@feddit.nl
      link
      fedilink
      arrow-up
      16
      arrow-down
      1
      ·
      10 months ago

      EVs still make up ~3% of new car sales and ~1% of cars on the road. Seems unlikely.

      • Meowoem@sh.itjust.works
        link
        fedilink
        arrow-up
        1
        ·
        10 months ago

        But it’s possibly a factor in the minds of executives who decide if it’s a good time to squeeze for more profit. They might have decided higher gas prices will push more people into buying ev which will fuel further infrastructure spending leading to a steeper adoption curve thus lower long term profits for oil companies.