00000nam 2200000zi 4500 9.874717 CaOODSP 20250821075116 m o d f cr ||||||||||| 190611t20192019oncd #ob f000 0 eng d CaOODSP eng rda CaOODSP eng fre n-cn--- FB3-7/2019-19E-PDF Latulippe, Étienne, author. Outlook for electric vehicles and implications for the oil market / by Étienne Latulippe and Kun Mo. Ottawa, Ontario, Canada : Bank of Canada = Banque du Canada, 2019. ©2019 1 online resource (ii, 7 unnumbered pages) : graphs. text txt rdacontent computer c rdamedia online resource cr rdacarrier Staff analytical note = Note analytique du personnel, 2369-9639 ; 2019-19 Title from cover. Includes bibliographical references. "The market for electric vehicles (EVs) is growing rapidly. Subsidies and technological improvements are expected to increase the market share of EVs over the coming decade. In its base-case scenario, the International Energy Agency (IEA) expects EV use to rise from 4 million vehicles in 2018 to 120 million by 2030, or from 0.3 per cent to over 7 per cent of the global car fleet. However, depending on environmental policy decisions, the number of EVs on the road by 2030 could reasonably range between 57 million and 300 million (4 to 19 per cent of the global fleet). The switch to EVs will have important implications for the global oil market. Our analysis shows that for every additional 100 million EVs on the road in 2030, gasoline consumption would fall by about one million barrels of oil per day and oil prices would be 4 per cent lower. Applying this rule-of-thumb to IEA’s base-case oil price projection of US$90 for 2030, we find that different assumptions on the size of the EV fleet can reasonably push oil prices within a range of US$85 to US$93"--Abstract, page ii. Includes abstract in French. gccst Electric vehicles gccst Petroleum industry gccst Impact studies Mo, Kun, author. Bank of Canada. Staff analytical note (Bank of Canada) 2369-9639 ; 2019-19. (CaOODSP)9.807323 PDF 520 KB https://publications.gc.ca/collections/collection_2019/banque-bank-canada/FB3-7-2019-19-eng.pdf