article thumbnail

Commentary: Could falling oil prices spark a financial crisis?

Green Car Congress

When oil prices were high and production was relentlessly climbing, energy related junk bonds looked highly profitable. The situation will compound itself if oil prices stay low. Without the ability to finance drilling, smaller or more indebted oil companies may not have a future.

article thumbnail

How crude-oil prices influence gasoline prices

Green Car Congress

Thus, the price of crude oil should have a strong influence on the price of gasoline. However, the retail price of gasoline includes other costs as well. The Energy Information Administration (EIA) estimates that in the United States from 2008 to 2017, crude oil represented only 61% of the retail price of gasoline.

article thumbnail

Opinion: Oil Price War May Benefit both US Shale and Saudi Arabia

Green Car Congress

Even as financial commentators on CNBC are starting to come around to the idea of a bottom in oil prices, the key question for US oil producers remains one of timing. How long will the oil price slump last? Is this a relatively short term event like 2008, or a longer term slump like the one in the mid 1980’s?

article thumbnail

Annual Increase in Global CO2 Emissions Halved in 2008; Decrease in Fossil Oil Consumption, Increase in Renewables Share

Green Car Congress

in 2008, against 3.3% In addition to high oil prices 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. billion tonnes in 2008. Source: PBL. Click to enlarge.

2008 170
article thumbnail

US Energy-Related Carbon Dioxide Emissions Declined by 2.8% in 2008; Transportation-Related Emissions Down 5.2%

Green Car Congress

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). Only one other year in the 1990 to 2008 time period experienced a decline: 1.2% Energy-related CO 2 emissions declined by 2.8% Source: EIA.

2008 150
article thumbnail

EIA Estimates 2.1% Growth in Fossil Fuel CO2 Emissions in US in 2010; Still Below 1999-2008 Levels

Green Car Congress

However, even with increases in 2010 and 2011, projected CO 2 emissions in 2011 are lower than annual emissions from 1999 through 2008. EIA projects that world oil consumption will grow by 1.5 US crude oil production averaged 5.32 million bbl/d in 2009, up about 370,000 bbl/d from 2008. in 2009, will increase by 2.1%

2008 186
article thumbnail

EIA: world petroleum use sets record high in 2012 despite declines in North America and Europe

Green Car Congress

In 2009, Asia surpassed North America as the world’s largest petroleum-consuming region as consumption rebounded from its 2008 decline. Between 2008 and 2012, Asia’s consumption increased by 4.4 Declines in petroleum consumption in the United States in 2008 and 2009 occurred during the economic downturn. Source: EIA.