EV Sales Are Taking Off. Why Is Oil Demand Still Climbing?

Employees work on the production line at Xiaomi's electric vehicle plant on March 25 in Beijing, China. Last year, 37 percent of new cars sold in China were electric and that figure could climb to 45 percent this year. Credit: VCG via Getty Images

This year is likely to bring two seemingly incongruous milestones. Sales of electric vehicles will hit an all-time high, and so will global oil consumption. It is as if the transition away from fossil fuels is moving faster than ever while barely gaining ground. In fact, experts say, adoption of electric vehicles, or EVs, is … Continue reading EV Sales Are Taking Off. Why Is Oil Demand Still Climbing?

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