Connect with us

Oil and Gas

How Much Oil is in an Electric Vehicle?

Published

on

How Much Oil is in an Electric Vehicle?

How Much Oil is in an Electric Vehicle?

When most people think about oil and natural gas, the first thing that comes to mind is the gas in the tank of their car. But there is actually much more to oil’s role, than meets the eye…

Oil, along with natural gas, has hundreds of different uses in a modern vehicle through petrochemicals.

Today’s infographic comes to us from American Fuel & Petrochemicals Manufacturers, and covers why oil is a critical material in making the EV revolution possible.

Pliable Properties

It turns out the many everyday materials we rely on from synthetic rubber to plastics to lubricants all come from petrochemicals.

The use of various polymers and plastics has several advantages for manufacturers and consumers:

  1. Lightweight
  2. Inexpensive
  3. Plentiful
  4. Easy to Shape
  5. Durable
  6. Flame Retardant

Today, plastics can make up to 50% of a vehicle’s volume but only 10% of its weight. These plastics can be as strong as steel, but light enough to save on fuel and still maintain structural integrity.

This was not always the case, as oil’s use has evolved and grown over time.

Not Your Granddaddy’s Caddy

Plastics were not always a critical material in auto manufacturing industry, but over time plastics such as polypropylene and polyurethane became indispensable in the production of cars.

Rolls Royce was one of the first car manufacturers to boast about the use of plastics in its car interior. Over time, plastics have evolved into a critical material for reducing the overall weight of vehicles, allowing for more power and conveniences.

Timeline:

  • 1916
    Rolls Royce uses phenol formaldehyde resin in its car interiors
  • 1941
    Henry Ford experiments with an “all-plastic” car
  • 1960
    About 20 lbs. of plastics is used in the average car
  • 1970
    Manufacturers begin using plastic for interior decorations
  • 1980
    Headlights, bumpers, fenders and tailgates become plastic
  • 2000
    Engineered polymers first appear in semi-structural parts of the vehicle
  • Present
    The average car uses over 1000 plastic parts

Electric Dreams: Petrochemicals for EV Innovation

Plastics and other materials made using petrochemicals make vehicles more efficient by reducing a vehicle’s weight, and this comes at a very reasonable cost.

For every 10% in weight reduction, the fuel economy of a car improves roughly 5% to 7%. EV’s need to achieve weight reductions because the battery packs that power them can weigh over 1000 lbs, requiring more power.

Today, plastics and polymers are used for hundreds of individual parts in an electric vehicle.

Oil and the EV Future

Oil is most known as a source of fuel, but petrochemicals also have many other useful physical properties.

In fact, petrochemicals will play a critical role in the mass adoption of electric vehicles by reducing their weight and improving their ranges and efficiency. In According to IHS Chemical, the average car will use 775 lbs of plastic by 2020.

Although it seems counterintuitive, petrochemicals derived from oil and natural gas make the major advancements by today’s EVs possible – and the continued use of petrochemicals will mean that both EVS and traditional vehicles will become even lighter, faster, and more efficient.

Click for Comments

Oil and Gas

How Oil Is Adding Fuel to Geopolitical Fragmentation

Which countries and regions decreased, banned, or increased Russian oil imports following the 2022 invasion of Ukraine?

Published

on

A preview Sankey chart showing Russian oil imported by country from 2021 to 2023.

Published

on

The following content is sponsored by The Hinrich Foundation

How Oil Is Adding Fuel to Global Fragmentation

Russia’s invasion of Ukraine in February 2022 led to severe bans or restrictions on Russian oil from the West. Meanwhile, other nations—including China, India, and Türkiye—opted to deepen trade ties with the country.

This graphic from the Hinrich Foundation is the final visualization in a three-part series covering the future of trade. It provides visual context to the growing divide among countries shunning Russian oil versus those taking advantage of the excess supply.

Which Countries Have Decreased or Banned Russian Oil Imports?

This analysis uses data from the IEA’s February 2024 Oil Market Report on Russian oil exports from 2021 to 2023.

Following the invasion, both the U.S. and the UK enacted a complete ban on Russian crude. Imports dropped from 600,000 barrels per day (bpd) in 2021 to zero by late-2022. 

Country/Region2021 (bpd)2022 (bpd)2023 (bpd)Change; 2021-2023 (bpd)
EU3.3M3.0M600K-2.7M
UK & U.S.600K100K0-600K
OECD Asia500K200K0-500K

Similarly, the EU, which has historically been more reliant on oil from Russia, dropped imports by over 80%, from 3.3 million bpd in 2021 to 600,000 bpd in 2023.

OECD Asia-Pacific—which includes Japan, South Korea, Australia, and New Zealand—also slashed their Russian oil imports. 

Which Countries Have Increased Imports of Russian Oil?

The pullback in demand for Russian crude from the West created a buying opportunity for countries and regions that chose not to support Western sanctions. 

Country/Region2021 (bpd)2022 (bpd)2023 (bpd)Change; 2021-2023 (bpd)
India100K900K1.9M+1.8M
China1.6M1.9M2.3M+700K
Türkiye200K400K700K+500K
Africa100K100K400K+300K
Middle East100K200K300K+200K
Latin America100K100K200K+100K
Other800K600K900K+100K

India increased its imports of oil from Russia, by the largest amount from 2021 to 2023—up to 1.9 million bpd from only 100,000 bpd

China, the biggest net importer, also saw a large uptick. The country boosted imports for Russian oil by over 40% over this timeframe. Türkiye increased imports of Russian crude by an additional 500,000 bpd

Several other regions—such as Africa, the Middle East, and Latin America—saw slight upticks in imports. 

Shifting Trade Dependencies

The dynamics present in the global crude market underscore broader trends in Russia’s trade relationships. Russia is becoming increasingly less economically reliant on the West and more reliant on China. 

From 2022 to 2023, the largest upward shift in the UNCTAD’s bilateral trade dependency estimates was Russia’s increased reliance upon China (+7.1%). 

DependentDepending OnAnnual Change
RussiaChina+7.1%
UkraineEU+5.8%
BrazilChina+3.0%

Note: Trade dependencies are calculated by UNCTAD as the ratio of two countries’ bilateral trade over the total trade of the dependent economy.

In fact, China threw a lifeline to Russia in the aftermath of the Ukraine invasion. The Atlantic Council reported that Chinese exports to Russia have grown 121% since 2021, while exports to the rest of the world have increased by only 29% in the same period.  

In contrast, Russia also exhibited a large decrease in reliance on the EU (-5.3%). South Korea and the U.S. have made shifts to further distance themselves from China as geopolitical tensions continue to mount.

DependentDepending OnAnnual Change
RussiaEU-5.3%
South KoreaChina-1.2%
U.S.China-1.2%

As the Russian oil market shows, geopolitical tensions have the potential to significantly impact trade. Though Russian crude exports remained steady amid the conflict, this necessitated a shift in its main trading partners. 

Visual Capitalist Logo

Visit the Hinrich Foundation to learn more about the future of geopolitical trade

Click for Comments

You may also like

TheCurrency-SubscribeHere

Subscribe

Continue Reading
Appian-Capital

Subscribe

Popular