Oil companies recently raised their projections on EV adoption by 40% [1]. Many countries are setting aggressive EV quotas, targeting 100% EV adoption in the ne

Oil companies recently raised their projections on EV adoption by 40% [1]. Many countries are setting aggressive EV quotas, targeting 100% EV adoption in the near future [2, 3]. Perhaps counter-intuitively, oil prices have not historically affected EV purchases [4]. Detailed sales trackers have shown consistent year-over-year growth in the EV segment for the past 22 consecutive months [5], a time when oil prices have been relatively low [6]. Even with low gasoline prices, driving an EV is reported to be less expensive per mile [7]. [1] https://www.bloomberg.com/news/articles/2017-07-14/big-oil-just-woke-up-to-the-threat-of-rising-electric-car-demand https://www.bloomberg.com/news/articles/2017-07-14/big-oil-j... [2] https://www.forbes.com/sites/timworstall/2017/04/30/indias-ambitious-target-for-only-electric-cars-by-2030-stern-v-nordhaus-all-over-again/#c3608a935a89 https://www.forbes.com/sites/timworstall/2017/04/30/indias-a... [3] https://thinkprogress.org/norway-aims-to-end-sales-of-fuel-burning-car-by-2025-as-ev-market-soars-edeac854f1e/ https://thinkprogress.org/norway-aims-to-end-sales-of-fuel-b... [4] http://www.fleetcarma.com/buying-ev-low-oil-prices/ http://www.fleetcarma.com/buying-ev-low-oil-prices/ [5] http://insideevs.com/monthly-plug-in-sales-scorecard/ http://insideevs.com/monthly-plug-in-sales-scorecard/ [6] http://www.infomine.com/investment/metal-prices/crude-oil/5-year/ http://www.infomine.com/investment/metal-prices/crude-oil/5-... [7] https://www.pluglesspower.com/learn/driving-electricity-cheaper-gas-50-states/ https://www.pluglesspower.com/learn/driving-electricity-chea...