eBikes are Killing the Oil Industry

This Earth Day it’s good to reflect on one’s own love for the planet Earth. If you want to express your love and appreciation for this ball of rock and air that orbits then Sun then you should ride a bike everyday. If an ordinary bike isn’t your style then you may want to consider an ebike. The future of our built environment will be about two wheels instead of four, and this can’t happen too enough. Thankfully the rise of ebikes is bringing us that future by getting people to ditch their lethal four wheel machines for better two wheeled solutions. Indeed, the oil industry may come to end sooner than projected because ebikes are lowering demand for gasoline!

If taken up, electric micromobility can cut urban emissions. A study of e-scooter riders in the United Kingdom found these trips produced up to 45 percent less carbon dioxide than alternatives.

US researchers estimate that if e-bike trips expanded to 11 percent of all vehicle trips, transport emissions would fall by about 7 percent.

As petrol prices increase and battery prices fall, the cheaper running costs of electric vehicles and even cheaper running costs of electric mopeds, bikes, and scooters will keep eating away at the demand for oil.

Global oil demand is now projected to peak in 2028 at 105.7 million barrels per day—and then begin to fall, according to the International Energy Agency.

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Bike Riding is Not Just a Phase

Every cyclists knows that riding a bike equals freedom, you can go where you want when you want and don’t need trillions of dollars of infrastructure to operate one. Electric bicycles are getting more affordable every year and more and more people are buying them instead of getting a car. Interest in car driving continues to decrease while interest in biking increases. Now cities need to change their car dominated approach to embrace a faster, safer, form of transportation.

As much of the media is still trying to understand the phenomenon of this massive growth in e-bike use, cities are already grappling with just how to handle it. Not only are cities around the US seeing their own rise in e-bike usage, but several are helping to support the shift away from cars by providing incentives for purchasing electric bikes.

Even without incentives though, e-bikes are surprisingly affordable. Like anything, you’ll find fancier expensive options. But a good e-bike can be bought for under $1,000. When you compare that to the cheapest $40,000 Tesla, you can see why young people are moving to e-bikes in droves.

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