The growth in electric vehicle adoption, especially in emerging markets, could threaten long-term oil demand growth, Carbon Tracker has reported , citing these markets’ dependency on imports that could be relieved by a switch to electric vehicles. “Emerging market oil importers spend 2% of GDP on oil imports, have a high and rising dependency on imported oil, and suffer premature deaths of 285,000 people a year from pollution linked to transport,” the authors of the report wrote. They also argued emerging economies were having to import increasingly expensive oil, deepening their dependency on the foreign commodity. Right now, this argument is rather weak, with oil prices in the $40s and China, the world’s biggest oil importer, shaping up as the one single country that is capable of driving demand for crude. At the same time, China is the biggest EV market in the world and likely to continue growing […]