In short, it is a powerful destroyer of demand and, therefore, a depressor of prices. Electrification, as an indisputable — and nearly sole, apart from demographics — driver of demand destruction, will reduce crude oil consumption by almost 600,000 barrels per day this year alone. The global oil consumption pie can roughly be divided into four slices. The first corresponds to light transport — cars and vans — the easiest to electrify and the first to feel the bite. With the expected sharp drop in prices and improvements in range over the coming years, those numbers can only grow.