The Oil Industry is massively affected by Electric Buses

In Europe, Managing director of Shenzhen-based Chinese manufacturing company BYD Co. Isbrand Ho reminisced about the time seven years prior when an early model of electric buses was presented for an industry convention. The conference was held in Belgium and everyone attended was making fun of them for creating a toy.
Buses using battery for power are seen to have the potential to innovate the way of transportation, and China is taking the lead on having buses powered by electricity.
As for the Bloomberg New Energy Finance, out of 385,000 electric buses worldwide, 99% was on the road in 2017. With five weeks interval, the cities in China add another 9,500 electric-powered buses.
Buses typically devour 30 more times of fuel compared to regular cars, and the decline in the demand of fuel is greatly affecting the energy industry.

As for BNEF calculations, 500 barrels of diesel fuel daily are not used for every 1,000 zero-emissions buses running on the road. In 2018, unneeded fuel may be 233,000 barrels daily due to electric buses.
According to the advanced transport head Colin McKerracher of the Bloomberg LP London-based research unit, the sales of the electric buses are positively bound to benefit over the project by city governments regarding the poor air quality.
China has the worst pollution problem, and as for Berkeley Earth, in 2015, an extra 1.6 million deaths are caused by the smogs. Which is why electrifying the transportation was seen relevant.
Ten years ago, Shenzhen was flourishing without the care for the environment until the smog became harmful, and in 2011, BYD produced the pioneer electric buses and in December, 16,359 electric buses were on the roads in the Chinese city.
Ho stated that BYD had 14,000 electric buses in Shenzhen in 2016, created 35,000 currently and can build around 15,000 annually. Since the electric buses started, 10 billion miles have been logged, 1.8 billion fuel gallons saved, and pollution was decreased due to the absence of carbon dioxide amounting to 18 million tons.
13 cities have committed to purchase electric-powered transport by 2025, including London, which has a program that will make all buses powered by electric by 2037. This will lead to 0.7% decline for fuel demand.
Leading the European transport market, Alexander Dennis Ltd., a manufacturer based in Falkirk, started in 2016 to create electric buses.

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