China's rapidly growing fleet of electric buses could be the biggest existential threat to oil demand in the future as more vehicles shun fossil fuels.
An engineer walks past piles of oil tanks at a PetroChina's oil refinery in Lanzhou, Gansu province, China.A new report from Bloomberg New Energy Finance suggests that China's electric-bus revolution could kill off oil demand in the future.
The report indicates that buses and other large passenger vehicles account for a far greater proportion of oil displacement than cars.
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