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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.
” Their analysis is in the context of the “ surprising [oil] demand strength of 2010 “; 2010 saw absolute incremental demand at around 2.2mb/d of growth—the second highest in 30 years, despite oilprices in the $90/bbl region. ” The team suggests that this may be the last extension for the credit.
Electric power generation from renewables is bolstered by legislation enacted at the beginning of 2013 extending taxcredits for generation from wind and other renewable technologies. Pipeline exports to Canada grow by 1.2% Over the same period, pipeline imports from Canada fall by 30%, from 3.0 Tcf in 2012 to 3.1
Analysts say rising oilprices benefited the company’s petrochemical business, helping to offset losses from its battery unit SK On, which has been facing weaker electric vehicle (EV) battery demand. . Inflation Reduction Act,” said Kang Dong-jin, an analyst at Hyundai Motor Securities.
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