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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 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. The world is nearing a paradigm shift in oil demand. Lindemer LLC.
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.
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.
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.
Oil is a strategic commodity second to none—it underlies the global economy and even the American way of life. Of course, other countries benefit from this fact, with about $900 million flowing out of the US to buy foreign oil every day, and about 40% of that going to OPEC. [ Source: EIA. Click to enlarge.
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. We expect continued strong activity in oil and liquids-rich resource plays in 2012. billion in 2010.
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
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.
entered into a feasibility agreement with NASA to evaluate the potential use of castor oil as a viable and sustainable feedstock for production of biojet fuel—also known as Bio Synthesized Paraffinic Kerosene (Bio-SPK) and Hydroprocessed Renewable Jet (HRJ). In April 2009 Evogene Inc. Earlier post.). Earlier post.).
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 world’s consumption of gasoline, diesel fuel, jet fuel, heating oil, and other petroleum products reached a record high of 88.9 If China’s use of petroleum continues to grow as projected, it is expected to replace the United States as the world’s largest net oil importer this fall. North America.
In contrast to arguments that peak conventional oil production is imminent due to physical resource scarcity, a team from Stanford University and UC Santa Cruz has examined the alternative possibility of reduced oil use due to improved efficiency and oil substitution. 2010, to above 140 $/bbl in constant 2010 dollars).
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 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
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.”
The model begins in 2010 with 220 million LDV spark-ignition (gasoline) vehicles, 9.7 Among their findings were: RFS2 is satisfied at extreme oilprices (at least $215/barrel). This oilprice encourages biofuel use in the RFS2 timeframe, but not in the long run. million E85 flex-fuel vehicles; 1.8
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. Coal will increase by 1.2%
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.
Even with CCS, the liquid product costs are comparable to recent crude oilprices. For a liquids-only configuration, CCS is a cheaper option when the CO 2 price exceeds $12/tonne. GHGT-10 took place 9-23 September 2010 in RAI, Amsterdam, The Netherlands. —Mantripragada and Rubin. Mantripragada and Edward S.
Established hydroprocessing technologies to produce aviation fuels from natural oils. supply chains for sustainable aviation fuels utilizing oils from oilseed crops such as camelina, as well as algae and biomass. Natural bio-oils have carbon chain lengths that are in the diesel range, 16-18 carbon atoms in the hydrocarbon.
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. Figures for December 2009 are scheduled to be available at the end of March 2010.
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 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.
An important precursor for some types of synthetic rubber is isoprene, a highly volatile hydrocarbon which is typically obtained as a by-product from refining crude oil. Synthetic rubber is produced on a large scale worldwide to supplement natural rubber, the majority of which is used for tires. —Joseph McAuliffe.
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.
The report also finds that by 2035 global energy savings could be equivalent to nearly 20% of global demand in 2010. The WEO finds that the extraordinary growth in oil and natural gas output in the United States will mean a sea-change in global energy flows. Oil demand reaches 99.7 Energy demand. — WEO-2012.
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.
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.
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. Multiple aims include the reduction of dependence on imported oil, mitigation of greenhouse gas (GHG) emissions, and driving economic development.
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.
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.
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.
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 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 Gas Conditioning.
—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. At sufficiently high oilprices, CCTF will always displace CCS, but from a climate perspective, CCTF (without air capture) is clearly not a replacement for CCS.
The report comes in the context of Victoria’s 5-year Electric Vehicle Trial (EVT), launched in 2010 ( earlier post ). The analysis is based on central forecasts of oilprice, electricity. However, as EV and PHEV prices gradually reach. Sensitivity testing reveals that the outcomes are highly sensitive to the price.
The fallout of the collapse in oilprices has a lot of side effects apart from the decline of rig counts and oil flows. Williston is coping with $300 million in debt after having leveraged itself to buildup infrastructure to deal with the swelling of people and equipment heading for the oil patch.
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.
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.
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.]
The cost to the manufacturer of producing the first generation of the PHEV-10 (2010–2012) is expected to be about $6,300 more than that of the equivalent conventional mid-size car (non-hybrid), including $3,300 for the battery pack. PHEV-40s, which consume 55% less gasoline than hybrids, could have a greater impact on oil consumption.
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