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3 Oil Majors That Bet Big On Renewables

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Big Oil has frequently been chided for merely trying to burnish its green credentials, and so far, it has done little to convince us that it is truly moving forward to greenness. Let this sink in: In 2018, Big Oil spent less than 1% of its combined budget on green energy projects. by Alex Kimani for Oilprice.com. 2 Total SA.

Oil 418
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IEA: Petrochemicals set to be the largest driver of world oil demand

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Petrochemicals are rapidly becoming the largest driver of global oil demand. Petrochemicals are set to account for more than a third of the growth in world oil demand to 2030, and nearly half the growth to 2050, adding nearly 7 million barrels of oil a day by then. Source: IEA. —Dr Fatih Birol, IEA Executive Director.

Oil 281
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IEA World Energy Outlook 2013 sees CO2 emissions rising by 20% to 2035; oil use on upward trend

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China is about to become the largest oil-importing country and India becomes the largest importer of coal by the early 2020s. The Middle East becomes the world’s second-largest gas consumer by 2020 and third-largest oil consumer by 2030, redefining its role in global energy markets. Mobility and oil. Source: IEA.

Oil 275
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BNEF: Oil price plunge to have only moderate impact on low-carbon electricity development, but likely to slow EV growth

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The collapse in world oil prices in the second half of 2014 will have only a moderate impact on the fast-developing low-carbon transition in the world electricity system, according to research firm Bloomberg New Energy Finance. While diesel and oil-based power is still uneconomic at $60/barrel, the pressure to switch is reduced.

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Volkswagen Group continues switch to low-emission logistics with order for four more LNG ships

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The further decarbonization of shipping will result in substantial CO 2 reductions, with the use of liquid natural gas enabling Volkswagen to cut the ships’ CO 2 emissions by up to 25% percent (tank-to-wake). The Volkswagen Group has therefore committed to e-mobility as well as to the sustainable production and use of new electric vehicles.

Emissions 476
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PCAST suggests 6 key components for climate change strategy to President Obama; adaptation and mitigation

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The President’s Council of Advisors on Science and Technology (PCAST) released a letter to President Obama describing six key components the advisory group believes should be central to the Administration’s strategy for addressing climate change. Both approaches are essential parts of an integrated strategy for dealing with climate change.

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IEA: global carbon dioxide emissions have rebounded strongly

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This year is pivotal for international climate action—and it began with high hopes—but these latest numbers are a sharp reminder of the immense challenge we face in rapidly transforming the global energy system. As travel and economic activities pick up around the world, oil consumption and its emissions are rising again.

Emissions 433