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Electrification isn't just a buzzword, it's a lever that could slash energy bills while reducing the world's dependency on coal, oil and gas. Which also means significantly slashing the heat-trapping CO2 emissions that are linked to flooding and extreme heat around the world. If fuel-importing countries "speed up the electrification of their economies considerably" they could knock more than $400 billion (€357 billion) off their energy import bills by 2035 compared with 2025 levels. That is according to a recent analysis by the International Energy Agency (IEA), which also found that such an acceleration could mean the world needs 18 million fewer barrels of oil per day.
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