This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
The collapse in world oilprices in the second half of 2014 will have only a moderate impact on the fast-developing low-carbon transition in the world electricity system, according to research firm Bloomberg New Energy Finance. However, the slump in the Brent crude price per barrel from $112.36 on 30 June to $61.60
April saw the US produce a record 10,543,000 barrels per day (MBD) of oil, according to data from the American Petroleum Institute. The first four months of this year also saw US petroleum demand average 750,000 barrels a day above the same period in 2017 despite higher prices. This was the strongest April monthly demand since 2007.
Short-term oil demand is still growing strong and will continue to do so through the end of 2020 despite the market’s increasing focus on electric vehicles and the forecasted future plateau in oil demand, according to new analysis from IHS Markit, a global business information provider. Source: IHS Markit 2018. —Spencer Welch.
Ceres recently released a new report concluding that coal-to-liquid (CTL) and oil shale technologies face significant environmental and financial obstacles—from water constraints, to technological uncertainties to regulatory and market risks—that pose substantial financial risks for investors involved in such projects.
Under the Reference case, domestic crude oil production is expected to grow by more than 20% over the coming decade; already, domestic crude oil production increased from 5.1 million barrels per day in 2007 to 5.5 Over the next 10 years, continued development of tight oil (e.g., quadrillion Btu in 2007, grows from 98.2
Chevron’s focus on optimizing the thermal management of the Kern River field has resulted in a steady drop in the steam:oil ratio (barrels steam water per barrel oil), resulting in improved economics of the field even with slowly declining production. Data: California DOGGR. Click to enlarge. Source: Chevron. Click to enlarge.
High prices at the pump—mostly a result of global crude oilprices—and the use of more efficient vehicles both encourage reduced gasoline consumption. less than 2007’s record summer gasoline demand of 9.4 US gasoline consumption is forecast to average almost 8.8
The True Cause of Recessions: OIL. I was asked to speak about the economic impact of our oil dependency and so I began researching this topic to see if I could draw some insightful conclusions. All of the recessions listed above were caused by oil except the early 2000 recession that was caused by September 11th, 2001.
In addition to high oilprices and the financial crisis, the increased use of new renewable energy sources, such as biofuels for road transport and wind energy for electricity generation, had a noticeable and mitigating impact on CO 2 emissions. Fossil oil consumption decreased by one per cent, due to high prices and more biofuels.
High oilprices, a global economic rebound, and new laws and mandates in Argentina, Brazil, Canada, China, and the United States, among other countries, are all factors behind the surge in production, according to research conducted by the Worldwatch Institute’s Climate and Energy Program for the website Vital Signs Online.
NY Times reporting: Oilprices reached the symbolic level of $100 a barrel for the first time on Wednesday, a long-awaited milestone in an era of rapidly escalating energy demand. Crude oil futures for February delivery hit $100 on the New York Mercantile Exchange shortly after noon New York time, before falling back slightly.
US traffic volumes started declining in November 2007 as oilprices rose and experienced dramatic drops in 2008. While traffic volumes have shown some year-over-year gains earlier this year, June marks the first month when driving was higher in all regions of the United States and on all types of roads.
mb/d, its strongest level since 2007. The increase in demand came as the US continued to sustain world-leading production, which continues to meet virtually all global oil demand growth. compared with July 2018, even as gasoline prices were 3.6% However, WTI prices remained down 19.2% ($13.62 This was a decrease of 0.9%
million barrels per day in July 2007. The record gasoline production in March makes it abundantly clear that supply is not an issue with the higher gasoline prices we’ve seen. Sharply higher crude oilprices are driving that, and they continue to put upward pressure on the price at the pump. from a year ago.
Oil companies continue to get burned by low oilprices, but the pain is bleeding over into the financial industry. Major banks are suffering huge losses from both directly backing some struggling oil companies, but also from buying high-yield debt that is now going sour. billion in 2007 up to $201 billion today.
NY Times reports: OilPrices Continue to Rise $91.86 A little context: oil at its lowest this year? a barrel on January 18, 2007. Tags: oilprice per barrel Big Oil. per barrel at Friday's close.
However, the study found that the growth of CO 2 emissions by 2030 would only be 1-5% lower than if subsidies had been maintained, regardless of whether oilprices are low or high. First, these subsidies generally apply only to oil, gas, and electricity. This is facilitated by today’s low oilprices.
World oilprices have fallen sharply from their July 2008 high mark. As the world’s economies recover, higher world oilprices are assumed to return and to persist through 2030. In the IEO2009 reference case, world oilprices rise to $110 per barrel in 2015 (in real 2007 dollars) and $130 per barrel in 2030.
The Annual Energy Outlook 2015 (AEO2015) released today by the US Energy Information Administration (EIA) projects that US energy imports and exports will come into balance—a first since the 1950s—because of continued oil and natural gas production growth and slow growth in energy demand. Tcf in the High Oil and Gas Resource case.
594, the Energy Independence and Security Act of 2007 (EISA) §§ 201 et seq., California’s LCFS also would have little or no impact on GHG emissions nationwide and would harm our nation’s energy security by discouraging the use of Canadian crude oil—our nation’s largest source of crude—and ethanol produced in the American Midwest.
AEO2013 offers a number of other key findings, including: Crude oil production , especially from tight oil plays, rises sharply over the next decade. Domestic oil production will rise to 7.5 Biofuels grow at a slower rate due to lower crude oilprices and. The share was 29% in 2007.). Overall findings.
EIA projects that world oil consumption will grow by 1.5 This growth is the result of an expected recovery in the global economy, with world gross domestic product (GDP, on an oil-weighted basis) assumed to rise by more than 3 percent per year. US crude oil production averaged 5.32 million barrels per day (bbl/d) in 2010 and 1.6
Background colors of the cells represent the crude oilprice required for economic feasibility. These synthetic fuels are economically competitive with petro-diesel when the crude oilprice (COP) is at or above $86 per barrel (based on a 20% rate of return, in January 2008 dollars, with a carbon price of zero).
The Gas Company currently produces synthetic natural gas from naptha and hydrogen, will plans to include plant oils and animal fats as feedstocks in the future. million miles of real-world driving by thousands of people since 2007. What’s happening here [in terms of energy prices] is happening elsewhere in the world.
in 2008 to 5,802 million metric tons of carbon dioxide (MMTCO 2 ), down from 5,967 MMTCO 2 in 2007, according to preliminary estimates released by the Energy Information Administration (EIA). Oil-related emissions declined by 6%, accounting for the bulk of overall reduction in energy-related carbon dioxide emissions. Click to enlarge.
Penetration rates for the PHEV-10 and the PHEV-40 were compared to a Reference Case that assumes high oilprices and fuel economy standards specified by EISA 2007 (with modest increases after 2020, when those standards level off), as described in the 2008 Hydrogen Report from NRC. More substantial savings could be seen by 2050.
Deforestation: Wood products contributed $100 billion per year to the global economy from 2003 to 2007 and the value of non-wood forest products, mostly food, was estimated at about US$18.5 High oilprices continue to affect consumer behavior, and concerns about climate change and reliance on oil are likely to increasingly shape policy.
Very broadly, they found that an LCFS would buffer the economy against global oilprice spikes, trim demand for petroleum, and lessen upward pressure on gas prices. Treat all crude oils as part of the overall pool of transportation fuels. We did not shy away from controversy. We are not advocates.
In 2005, Congress enacted the Renewable Fuel Standard as part of the Energy Policy Act (EPAct) and amended it in the 2007 Energy Independence and Security Act (EISA). The best cost estimates of cellulosic biofuel are not economical compared with fossil fuels when crude oil’s price is $111 per barrel. Economic effects.
Concerns about carbon emissions and their impact on climate change plus high and volatile oilprices are increasing the popularity of hybrid and electric vehicles despite their higher costs. Orocobre went public in December 2007 and now has a current market capitalization of nearly A$150 million.
The company introduced the TCe 100 in 2007 and the TCe 130 in 2008, earlier post.). This work covers both gasoline and diesel powerplants, although the greatest scope for reducing CO 2 emissions concerns gasoline engines; and. More efficient manual and automatic transmissions.
With oilprices surging in the summer of 2008, the annual increase in global emissions of carbon dioxide (CO2) from oil, coal, gas and cement production appear to have halved according to preliminary estimates by the Netherlands Environmental Assessment Agency. per cent in 2007. per cent in 2007.
The Obama administration has confirmed its committment to meet the 2007 ‘Renewable Fuels Standard’ yet has added caps on the use of grain-based ethanol to address concerns over negative impact associated with their use such as greenhouse emissions, increased food prices and land clearing. Jackson said.
Several studies have shown that biofuel production can be increased without a significant increase in acreage, but the debate has only been made all the more tempestuous by the 2007-2008 world food price crises. There are concerns too about soil erosion and deforestation.
The oilprice shocks of the 1970s led the Brazilian government to address the strain high prices were placing on its fragile economy. Brazil, the largest and most populous country in South America, was importing 80% of its oil and 40% of its foreign exchange was used to pay for that imported oil.
The Smart Grid Consortium, established in December 2007 by Xcel Energy, will select a community of approximately 100,000 residents to become a Smart Grid City using V2G. Millions of EVs and PHEVs would expand the sale of electricity as an alternative to oil. No more Big OIL - think of the extra money stimulating the economy!
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content