Ultimately, high EV penetration is likely to be the long-term antidote to growing emissions by SUVs and other fossil fuel vehicles considering that the transportation sector is responsible for more than half of global oil demand. But it won’t be soon.Īccording to the EIA, “electric SUVs are growing in popularity, but not quickly enough to offset the increasing oil consumption and emissions of the wider fleet.”That means continued oil demand growth from this segment. Or we can just wait for EVs to kill off SUVs, as Citroën CEO Vincent Cobée believes will happen in the future. Regulatory changes are also required to make SUVs less attractive, with the federal government continuing to incentivize automakers to produce more SUVs. Those strategies would keep in check the investment requirements for developing the cobalt, copper, lithium and nickel resources needed to satisfy the increasing uptake of EVs." Related: Is India Drifting Away From The U.S.?Īlternatively, buying SUV models such as Lucid Gravity and the Nio EC7 from companies that emphasize efficiency as a priority can help mitigate the problem. downsizing of the average car size increasing battery swapping and investing in innovative battery technologies. The agency says that switching to electric SUVs is hardly the ideal solution, noting that larger electric SUVs generally require larger battery packs, which translates to increased need for raw materials. While better than their gas-guzzling predecessors, the added weight and poorer aerodynamics of modern SUVs compared to sedans, hatchbacks, and wagons are still detrimental to efficiency and contribute to higher emissions. The report comes after a similar report published in 2019 revealed that SUVs were the second-largest contributor to a CO2 increase in the 2010s. The report says that SUV-related oil consumption rose by 500,000 barrels per day between 20, accounting for one-third of the total growth in oil demand at a time when oil use in conventional cars, excluding SUVs, stayed roughly the same. While it’s bad for climate goals, it’s certainly good for oil demand. A new IEA analysis has revealed that global CO2 emissions from SUVs in 2022 hit nearly 1.1 billion tons, overshadowing increased EV sales. Unfortunately, robust SUV demand negates those gains and makes it real hard for EVs to make a dent on the planet’s CO2 footprint. Last year, Bloomberg New Finance (BNEF) reported that EVs displaced 1.5 million barrels per day in oil demand in 2021, potentially preventing the emission of nearly 65 million tons of CO2 in a single year. The global electrification drive has been hailed as the world’s best shot at preventing a catastrophic and irreversible climate meltdown wrought by uncontrolled emissions of carbon dioxide and other greenhouse gasses.
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