A new report from Bloomberg New Energy Finance suggests that China’s electric-bus revolution could kill off oil demand in the future. By the end of 2019, 270,000 barrels a day of diesel will be taken out of the market as a result of China’s switch to non-fossil fuel engines. The report indicates that buses and other large passenger vehicles account for a far greater proportion of oil displacement than cars. An error has occurred Business Insider Sign up for our best stories delivered to your inbox By clicking Sign Up, you agree to receive marketing emails from Insider Inc. and accept our Terms of Service and Privacy Policy . China’s rapidly growing fleet of electric buses could be the biggest existential threat to oil demand in the future as more and more vehicles shun fossil fuels. A new report from Bloomberg New Energy Finance suggests that China’s electric-bus revolution could kill off oil demand in the future with 6.4 million barrels a day displaced by electric vehicles by 2040. By the end of 2019, a cumulative 270,000 barrels a day of diesel demand, predominantly from China, will be removed from the market. China’s revolution in electric vehicles has been […]

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