Assumptions we made that drive our

Rapid Substitution Calculator

The following are data assumptions used to base the design of the Rapid Substitution Calculator.

Global Oil Consumption (2019)101 mbpd
Global Oil Production (2019)101 mbpd
Average Price (2019)$64
Oil subject to market price (annual; millions of barrels)27649 mn barrels
Savings from 50% discount$885 bn
Passenger Vehicles in US (cars and trucks)254
Miles Driven Annually11,500
Barrels Per Year / Per Vehicle11 
This is an estimate of how long an ICE vehicle bought today will last.
Vehicles to reach 5% (millions)168
Savings Per Car$5,267
Savings Per Lifespan$89,539


Current Buying Preferences 


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