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World energy consumption by fuel type, 2010-2040. The US Energy Information Administration’s (EIA’s) International Energy Outlook 2013 (IEO2013) projects that world energy consumption will grow by 56% between 2010 and 2040, from 524 quadrillion British thermal units (Btu) to 820 quadrillion Btu. Source: IEO2013.
Global energy intensity, 1981-2010. Global energy intensity—defined as total energy consumption divided by gross world product—increased 1.35% in 2010, the second year of increases in the context of a broader trend of decline over the last 30 years, according to a new Vital Signs Online article from the Worldwatch Institute.
The impact of rising oilprices on North American light tight oil (LTO) production is said to be a “Catch 22”, the title of Joseph Heller’s popular 1961 novel set in WWII. Too many analysts continue to believe drilling and service has the same problem with rising oilprices. by David Yager for Oilprice.com.
Those claiming that oil will continue to fall from here and remain low for evermore, however, are flying in the face of both history and common sense. The question we should be asking ourselves is not if oilprices will recover, but when they will. Supply alone, however, doesn’t determine price. That is a good thing.
Global demand for oil may well peak before 2020, falling back to levels significantly below 2010 demand by 2035, according to a multi-client research study conducted by Ricardo Strategic Consulting launched in June 2011 in association with Kevin J. Oil demand growth will have its limits in every country. Lindemer LLC.
The US Energy Information Administration (EIA) estimates in the April 2010 release of its Short-Term Energy and Summer Fuels Outlook that CO 2 emissions from fossil fuels, which declined by 6.6% in 2010 and 1.1% EIA projects that world oil consumption will grow by 1.5 million barrels per day (bbl/d) in 2010 and 1.6
According to the report, “ Forecast of On-Road Electric Transportation in the US (2010-2035) ”, this figure could increase to as high as 30 million EVs depending on advances in battery technology. The high electric transportation scenario combines the advanced battery scenario with high oilprices ($200/barrel in 2035).
The Nikkei reports that the nationwide average price in Japan for regular gasoline was ¥139.8 Prices at the pump are falling in Japan not only due to lower crude oilprices, but also because the widespread popularity of fuel-efficient vehicles has lowered demand for gasoline.A per liter ($6.65
The Sandia researchers showed that the key to meeting the RFS2 targets is the fuel price differential between E85 fuel and conventional gasoline (low ethanol blends), so that E85 owners refuel with E85 whenever possible. The model begins in 2010 with 220 million LDV spark-ignition (gasoline) vehicles, 9.7 —Westbrook et al.
Increased consumption in 2010 reflected improving economic conditions. In 2011 and 2012, higher oilprices and increased fuel efficiency of light-duty vehicles contributed to reduced US consumption.
Although co-production plants are much more costly than liquids-only configurations in terms of capital cost, Hari Mantripragadaa1 and Edward Rubin found, because of the high electricity revenues the cost of liquid product is lower than that of the liquids-only case, at market prices of electricity. —Mantripragada and Rubin.
The average price at the pump for gasoline in California during November 2009 was $3.01 Prices were extremely low in late 2008, reflecting the burst of a crude oilprice bubble that developed earlier in the year. Diesel prices in California were $2.96 Gasoline consumption declined 2.3 per gallon compared to $2.51
In the paper, Nataliya Malyshkina and Deb Niemeier point out that the peak of oil production is estimated to occur approximately between 2010 and 2030, and note that all those dates are considerably earlier than their estimate of the time until renewable replacement technologies are viable in the market (around 2140).
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. in February 2010 and 12.2% in January 2010.
United States M&A activity for upstream oil and gas deals set records in 2011 for both deal values and deal counts, according to PLS, Inc., a provider of information, marketing and advisory services for the oil and gas industry. billion in 2010. billion in 2010). billion), up from eight deals in both 2010 and 2009.
Net petroleum imports as a share of total US liquid fuels consumed drop from 49% in 2010 to 38% in 2020 and 36% in 2035 in AEO2012. 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
Energy executives expect continued volatility in the price-per-barrel of oil for the remainder of the year, with 64% predicting crude prices to exceed $121 per barrel. Only 35% think current crude prices are near the high they expect for oil this year, predicting the peak will be between $111 and $120 per barrel.
Between 2010 to 2030 the contribution to energy growth of renewables (solar, wind, geothermal and biofuels) is seen to increase from 5% to 18%. Natural gas is projected to be the fastest growing fossil fuel, and coal and oil are likely to lose market share as all fossil fuels experience lower growth rates. The net growth of 16.5
The fortunes of alternative energy have historically waxed and waned with the price levels of oil, gas, and other energy sources, rising when prices are high only to fall once they retreat. Base case economics for EVs in North America are very challenging, absent significant disruption in oilprice or battery cost.
This larger resource leads to about double the shale gas production and more than 20% higher total lower-48 natural gas production in 2035, with lower natural gas prices, than was projected in the AEO2010 Reference case. In 2035, the average real price of crude oil in the Reference case is $125 per barrel in 2009 dollars.
Responding to press articles saying that the collapse of the global oilprice is threatening oil and gas production in the off-shore Brazil pre-salt layer, Petrobras countered that it is expanding its production capacity “in an economically viable manner.” On Tuesday, 6 January, the price for WTI crude closed at $47.93/bbl,
million by 2015 at a compound annual growth rate (CAGR) of 28% (2010-2015), according to the report. Pike Research further estimates that charging station sales in Asia-Pacific will reach more than 860,000 units at a CAGR of 91% (2010-2015) and revenue of more than $865 million in 2015.
This comparative simulation was carried out over the period 2010 to 2030. Because of the higher levels of income and GDP resulting from the policies, the US federal budget deficit would improve by a cumulative (2010 to 2030) $336 billion, net of policy costs. Oil Imports. billion fewer barrels of foreign oil.
The KPMG research finds that the external environmental costs of 11 key industry sectors jumped 50% from US$566 to US$846 billion in 8 years (2002 to 2010), averaging a doubling of these costs every 14 years. Total environmental cost 2010 vs growth in environmental cost since 2002 vs environmental intensity improvement. Source: KPMG.
2010 global automotive materials market by revenue (top) and volume (bottom). Frost & Sullivan values the 2010 lightweight automotive metals market at $20,698.1 The company values the 2010 automotive plastics market at $17,305.7 Source: Frost & Sullivan. Click to enlarge. Polyamides (PA 6 and PA 66). Polyurethanes.
Over time, however, as the CO 2 price increases, it eventually becomes more economical to either retrofit plants to capture and store most of. —Kreutz (2010). —Kreutz (2010). CCTF will only employ direct CO 2 capture from air when the CO 2 emission price exceeds the cost of air capture. —Kreutz (2010).
The MIT Energy Initiative (MITEI) has released a report on the proceedings—and papers that informed those proceedings—of the 8 April 2010 symposium on The Electrification of the Transportation System: Issues and Opportunities. The symposium was sponsored by the MIT Energy Initiative, together with Ormat, Hess, Cummins and Entergy.
We want to make biochemicals from renewable materials partially as a hedge against rising crude oilprices and much more so because this approach moves us to a more sustainable future. —Joseph McAuliffe.
Such economic benefits could be realized earlier through effective policies which reduce first mover costs in the short term and promote rapid take-up once non-ICE vehicle price premiums reduce to levels that make them affordable to. The analysis is based on central forecasts of oilprice, electricity. This is primarily due to.
The D7566 fuel specification is written for fuels produced using the Fischer-Tropsch process; however, specifications for alternative aviation fuels containing Bio Synthesized Paraffinic Kerosene (biojet) are expected to be approved for commercial airline use before the end of 2010 or early next year. Earlier post.).
Using publicly available financial data, they applied investment analysis tools (the capital assets pricing model, CAPM) that are generally not applied to this space in order to develop a more rigorous understanding of the investment risk in the industry.
Following that announcement, G-20 Leaders agreed to national plans to implement subsidy reform (June 2010) and have asked international organizations to review and assess members’ progress against their commitments (November 2010), according to the conference report.
BGPY worldwide, representing a 127% increase over 2010 production volumes and an 8.4% between 2017 and 2021, as a combination of higher oilprices, emerging mandate. Ultimately, widespread commercialization will depend on whether these ventures can reach price. compound annual growth rate (CAGR) between 2011 and 2021.
billion into bio-based materials and chemicals (BBMC) startups since 2010, reflecting the drive for sustainability, performance, and alternatives to petroleum feedstocks. Low oil hits drop-ins, substitutes. About 80% of VC investment in 2016 was on improved products, as opposed to only 46% from 2010 to 2015.
The authors presented three process models for production of renewable aviation fuel from microalgae, Pongamia pinnata seeds and sugarcane molasses to produce a minimum selling price for aviation biofuel. Pongamia pinnata is a legume tree which produces a seed rich in oil.) million project.
Volatility hurts us too, for as we’ve learned the price of oil can rise sharply in a short period of time. This means our economic stability is at stake because of our reliance on oil. In fact, four of the last five recessions were started by an oilprice spike. [
This immediate problem affecting the 2010 Prius relates to software that manages the regenerative and conventional braking system. Oilprice and supply dependencies will continue the search for alternative fuel sources, and battery powered vehicles can have a significant impact on that equation. Earlier post.]
They assumed an oilprice of US$80/bbl, close to the short-term. They used an EV drivetrain with a single 74 kW central motor (CM) that consumes 103±20 Wh/km from 2010 and one with two 29kW wheel motors (WM) that consumes 89±19 Wh/km from 2015. and cheaper engines and battery packs. projections in the World Energy Outlook 2009.
Projected output of the Clinton Project is a maximum 13,000 barrels of diesel per day (15,800 barrels of oil equivalent per day or 5.3 Syngas projects about a 10% ROI at US$60/barrel of crude, which higher returns at higher oilprices.
The rolling four-week average of US gross refinery inputs has been above the previous five-year range (2010-14) every week so far this year. The record high gross inputs reflect both higher refinery capacity and higher utilization rates.
As of 2010, biofuel production was contingent on subsidies, tax credits, the import tariff, loan guarantees, RFS2, and similar policies. However, consumers’ willingness to purchase flex-fuel vehicles and use E85 instead of lower blends of ethanol in their vehicles will likely depend on the price of ethanol and their attitude toward biofuels.
Driving the sales increase is a forecast significant reduction in battery prices—the result being that during the 2020s EVs will become a more economic option than gasoline or diesel cars in most countries. At the core of this forecast is the work we have done on EV battery prices.
The underlying assumption is that the world will immediately use whatever oil can be pumped from the ground, and that supply is independent of demand—that is, oil exploration investments bear no relation to the current oilprice or expectations of future demand. 2010, to above 140 $/bbl in constant 2010 dollars).
The total cost of ownership includes the vehicle price, annual fuel and maintenance costs and insurance. Secondly, by directly estimating take-up it is possible to consider the impact of various potential sensitivities around prices (electricity price, fuel price, vehicle price) and how these affect take-up.
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