There are now 200 million SUVs on the roads globally, up from 35 million in 2010, according to data the International Energy Agency (IEA). In fact, 60 percent of the increase of the global vehicle fleet since 2010 came from SUVs. Because SUVs are significantly less fuel efficient than smaller more compact cars, the impact on oil demand and greenhouse gas emissions is substantial. SUVs accounted for “all of the 3.3 million barrels a day growth in oil demand from passenger cars between 2010 and 2018,” the IEA said. EVs have been making significant headway in vehicle sales, raising hopes that the energy transition may accelerate and lead to peak oil demand. But the IEA cautioned that SUVs are undercutting much of the progress. If sales of SUVs continue on their current trajectory, it would add another 2 million barrels per day (mb/d) by 2040, “offsetting the savings from […]