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Gasoline is one of the products refined from crude oil. 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. Gasoline prices are also influenced by gasoline demand relative to gasoline supply.
Predicting and diagnosing the trajectory of oilprices has become something of a cottage industry in the past year. But along with all of the excess crude flowing from the oil patch, there is also an abundance of market indicators that while important, tend to produce a lot of noise that makes any accurate estimate nearly impossible.
Oilprices faltered at the start of the second week of the year, as fears set in about a rapid rebound in US shale production. Aside from a single week in October, the US oil industry has deployed more rigs in every week dating back to June, a remarkable run that has resulted in more than 200 fresh rigs drilling for oil.
Liquid fuels production (OPEC crude and lease condensate, non-OPEC crude and lease condensate, and other) and consumption (by OECD and non-OECD regions) under three price cases in 2040. per year, as the mature economies react to sustained high fuel prices. Dashed red line shows 2010 consumption of 87 MMbbl/d. Source: EIA.
Therefore, the recent jump in oilprices (because of the war in Ukraine), should have only a relatively small indirect effect on the cost of electricity. The raw data—the retail prices of regular gasoline, on-highway diesel, and residential electricity—came from the Energy Information Administration. Month (2022).
The focus of the work was on alternative jet fuels that could be available commercially in the next decade using primarily North American resources. Production of commercial quantities of HRJ depends on the availability of appropriate feedstocks at competitive prices. From Hileman et al. Click to enlarge. million bpd.
One of the many charts available from the maps and data library on the AFDC site, this shows the number of light-duty alternative fuel vehicles (AFVs), hybrid electric vehicles (HEVs), and diesel models offered by vehicle manufacturers from 1991 through 2012. Click to enlarge.
This comes at a time when companies are facing a prolonged period of lower prices and when access to financing from capital markets has become difficult, the report says. The combination of closed capital markets and weak prices are pulling cash out of the system. —Raoul LeBlanc. —Raoul LeBlanc. —Raoul LeBlanc.
Uncertainty range of the aviation GHG emissions under the High Oilprice scenario (the most optimistic for biojet adoption), given in a box plot depicting the minimum, quartile, and maximum values. The model uses three price scenarios: low oil, reference and high oil. Credit: ACS, Agusdinata et al.
A new study by the French institute Enerdata, commissioned by the European Federation for Transport & Environment (T&E), suggests that the European CO 2 standards for new vehicles due to come into effect in 2012 will lead not only to a European savings on oil (mainly via lower oil import volumes) but also to slightly lower global oilprices.
The “Arab Spring” affected oil and gas supplies—most notably the complete, albeit temporary, loss of Libyan supply—while the tragic Fukushima accident in Japan had knock-on effects for nuclear and other energy sources around the world. Prices increased in all regions. more as natural gas was diverted to Asia.
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
High oilprices, persistent differences in gas and electricity prices between regions and rising energy import bills in many countries focus attention on the relationship between energy and the broader economy. In petrochemicals, the Middle East, China and North America help push up global oil use for feedstocks to 14 mb/d.
America’s dependence on oil ties our national and economic security to a highly-unpredictable, cartel-influenced global oil market. Diversifying the types of vehicles and fuels available to our drivers offers our city protection from often-volatile oilprices and better prepares us for the future.
Ultimately, widespread commercialization will depend on whether these ventures can reach price. Key trends identified in the report include: Oilprices are expected to climb over the next decade, driving increased interest in. parity with petroleum-based fuels. — Biofuels Markets and Technologies. dominance and reach 49.5
This long-term growth is expected to be propelled by improving vehicle technology economics—a function of battery innovations, government transportation energy policies, oilprice projections, and movements to price carbon. —Scott Shepard, senior research analyst with Navigant Research.
The technically recoverable unproved shale gas resource is 827 trillion cubic feet (as of 1 January 2009) in the AEO2011 Reference case, 474 trillion cubic feet larger than in the AEO2010 Reference case, reflecting additional information that has become available with more drilling activity in new and existing shale plays. Source: EIA.
—Jim Burkhard, vice president and head of oil markets, IHS Markit. IHS Markit expects oil demand in the second quarter of 2020 to be 22 MMb/d less than a year ago. Other technical-related factors are health, safety, and worker availability.
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. Scenario 1.
We would expect that new reserves of conventional and unconventional oil may become available for exploration due to geological exploration and advances in oil extraction techniques or that extraction from less feasible oil fields becomes more economically attractive.
But this spending breakdown just for car-owning households is not normally available. For people already drowning under the weight of motoring costs, cutting a penny or two off the price of a litre of fuel will help but is like rearranging the deck chairs on the Titanic—ultimately futile. p/liter (US$7.54/gallon p/liter (US$4.32/gallon
Although the Middle East and parts of Africa are potentially ideal candidates for algae production given the availability of desert areas, persistent political instability, infrastructure challenges, a commitment to petroleum production, and lack of access to capital will limit growth in those regions over the next decade.
Due to the collapse in oilprices, IHS Markit expects US producers are in the process of curtailing about 1.75 This resumption of production may accelerate if WTI remains above $30 per barrel—a price that allows operators to cover their operating costs and that reflects improved storage availability.
A flood of bearish news has pushed down oilprices to their lowest levels in months, with WTI nearing $45 per barrel and Brent flirting with sub-$50 territory. With a bear market back, there is pessimism throughout the oil markets. However, the WTI/Brent spread has shrunk more dramatically since the collapse in oilprices.
The collapse of oilprices has ground shale drilling to a halt, but the one region where drilling is still active, and even increasing, is in West Texas. The rash of deals exemplify the latest trend as the oil markets slowly move towards balance and oilprices continue to languish below $50 per barrel.
Based on our project objectives, the castor bean varieties we are developing have a potential to address the immediate need for sustainable, widely available and cost efficient solutions for the biofuel industry.
Already the growth of renewable diesel production is impacting feedstock markets, with many analysts identifying growth in renewable diesel as a factor contributing to recent record soy oilprices. —from the report, “Animal, vegetable or mineral (oil)?”.
Considering today’s oilprices and the efforts being made by the IMO, for example with the coming International Energy Efficiency Certificate (IEE), we believe that this product really has come at exactly the right time. The smaller Opcon Powerbox WST is powered by surplus steam available on the vessel.
Performance in the study is measured by such metrics as: (1) required selling price of the fuel; (2) crude oilprice when the process will become economically viable; (3) the Well-to-Wheels (WTW) life cycle GHG emissions profile of the diesel fuel; and (4) the water usage associated with the facility. —White and Gray.
The KPMG study, “Expect the Unexpected: Building Business Value in a Changing World”, explores issues such as climate change, energy and fuel volatility, water availability and cost and resource availability, as well as population growth spawning new urban centers. Population Growth: The world population is expected to grow to 8.4
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.
Two key drivers of EV adoption include climate concerns and oilprices. million EV charge points will be available to drivers across the region, outnumbering the vehicles themselves. The latter will be less of a problem over time as public, private, workplace, and residential charge points are installed in the coming years.
between 2017 and 2021, as a combination of higher oilprices, emerging mandate. obligations, availability of new feedstocks, and the scaling up of advanced technologies. Ultimately, widespread commercialization will depend on whether these ventures can reach price. A more robust growth is expected. dominance and reach 49.5
For the report, Navigant evaluated announced automaker electrification strategies; concept vehicles; and regional mandates and regulations that incentivize vehicle electrification to assess what HEV and PEV availability will look like in each country throughout the forecast period on a vehicle-by-vehicle basis.
The total cost of ownership includes the vehicle price, annual fuel and maintenance costs and insurance. The report, Economic Viability of Electric Vehicles , was originally published in September 2009, and has been made available online. Future costs have been discounted at 7%. Source: AECOM. Click to enlarge.
That amounts to just 2 percent of available credit lines, much lower than the 15 percent reduction expected by analysts. Maintaining access to finance can come at a price. Kicking the can means that production may not fall as fast as expected, which will mean oilprices may not begin to stage a rally as quickly as some had hoped.
The predominant role of oil in the global energy mix is facing an ever greater challenge from a number of emerging trends. Over the past few years a near “perfect storm” for oil demand has been forming and gathering strength, created by a preoccupation in many quarters about the availability of future supplies.
Global Demand for Oil. World demand for oil would fall, leading to lower world oilprices. Outside commodity price experts have estimated that the price of oil would be almost 7% lower by 2030 than it would be without the EC policy package. Resilience to Future Price Shocks.
According to DNV GL, the main drivers for the use of alternative fuels in shipping in the future can be classified in two broad categories: (a) Regulatory requirements and environmental concerns, and (b) availability of fossil fuels, cost and energy security. —“Alternative Fuels for Shipping”.
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.)
Navigant expects that with a wider gap between natural and liquid fuel prices and more aggressive incentives, Western Europe and to a lesser degree Asia Pacific, will continue to see NGV growth, but at a lower rate than previous projections. Various regional factors affect the markets for natural gas vehicles (NGVs), Navigant observes.
Rising OilPrices Lead to Investments in Natural Gas. Oil markets are traditionally sensitive to a pick up in economic activity. As the economy continues to slowly improve over the next 12 months, Cascadia predicts that oil will hit $100 per barrel. be seen as a viable energy source readily available in the US.
Over time, however, as the CO 2 price increases, it eventually becomes more economical to either retrofit plants to capture and store most of. are expected to be widely available only as supercritical CO 2 in pipelines destined for geologic storage. their CO 2 (e.g. ~90%) natural gas, nuclear energy, renewable energy, etc.).In
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. If competition for bioenergy feedstocks intensifies because of low supply, the price will likely increase.
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