1 barrel of oil can produce 19 gallons of gas (or so the internet says).
How much gas does the average person burn a week? 15? 20? For the sake of argument lets say 15, which is probably a nice average between ICE and hybrid owners.
300K new BEVs will save roughly 234 million gallons of gas a year OR 12.3 million barrels of oil
The US currently imports about 9.4 million barrels of oil a day. Let's look at where it comes from (via
How much petroleum does the United States import and export? - FAQ - U.S. Energy Information Administration (EIA)):
Top sources and amounts of U.S. petroleum imports, exports, and net imports, 2015 (million barrels per day)
Import sources |
Gross imports |
Exports |
Net imports
Total, all countries | 9.40 | 4.75 | 4.65
OPEC countries | 2.90 (31%) | 0.25 | 2.65
Persian Gulf countries | 1.51 (16%) | 0.01 | 1.50
Top five countries
Canada | 3.75 (40%) | 0.95 | 2.81
Saudi Arabia | 1.06 (11%) | 0.00 | 1.06
Venezuela | 0.83 (9%) | 0.08 | 0.75
Mexico | 0.76 (8%) | 0.69 | 0.07
Columbia | 0.39 (4%) | 0.17 | 0.22
Now that 12.3 million barrels saved a year is a blip against ALL imports (but still impressive!), but I'm pretty sure the Saudis would notice a 3-4% permanent decline in oil consumption. Which in reality will be even greater given the mandate in the US for more fuel efficient ICE vehicles.
My feelings on this: Bring on the BEVs, and start cutting imports from outside North America as fast as you can. Start with Saudi Arabia, then the rest of OPEC, and save Canada for last. Please.
if the Bolt, new i3, and the rest also sell over the next few years - it may be way more than just 1 million by the end of 2020.. I credit Tesla (and Musk) almost entirely with the wave of new EV's coming out.. The revolution they sparked is much larger than just Tesla's output itself.