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EIA expects record global petroleum consumption in 2024, with lower crude oil prices

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EIA expects crude oil prices to decrease through 2023 and 2024, even as petroleum consumption increases, largely because growth in crude oil production in the United States and abroad will continue to increase over the next two years. Areas of uncertainty include Russian oil supply and OPEC production. per gallon in 2024.

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IEA: global oil demand to decline in 2020 as coronavirus weighs on markets

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Global oil demand is expected to decline in 2020 as the impact of the new coronavirus (COVID-19) spreads around the world, constricting travel and broader economic activity, according to the International Energy Agency’s (IEA’s) latest oil market forecast. The IEA now sees global oil demand at 99.9

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EIA expects US motor fuel consumption to increase this summer, but remain below 2019 levels

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The US Energy Information Administration (EIA) forecasts an increase in demand for petroleum products during the 2021 summer driving season as the impacts of COVID-19 diminish in the United States. EIA also forecasts the Brent crude oil price will average $64 per barrel this summer, a 78% increase from last summer’s average of $36 per barrel.

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EIA: energy-related CO2 emissions in US to fall 11% this year

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The US Energy Information Administration (EIA) forecasts that US energy-related carbon dioxide (CO 2 ) emissions will decline by 11% in 2020. In EIA’s latest Short-Term Energy Outlook , US energy-related CO 2 emissions are forecast to fall more than the 5% decline in gross domestic product (GDP) in 2020. Source: U.S.

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EIA projects increases in global energy consumption and emissions through 2050

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In its International Energy Outlook 2021 (IEO2021), EIA projects that strong economic growth, particularly with developing economies in Asia, will drive global increases in energy consumption despite pandemic-related declines and long-term improvements in energy efficiency. —EIA Acting Administrator Stephen Nalley.

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BNEF: Net-zero transition potentially a $3.5T investment opportunity for Indonesia

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Based on BNEF’s New Energy Outlook, its annual long-term scenario analysis on the future of the energy economy, the report examines how Indonesia’s energy supply may evolve under BNEF’s Economic Transition Scenario (ETS) as well as a Net Zero Scenario (NZS) compliant with the goals of the Paris Agreement.

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Wärtsilä report finds accelerated adoption of renewables can reduce electricity production costs by up to 50%

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Once there is sufficient renewable output, battery storage and thermal balancing power plant capacity in the system, retire legacy inflexible plants, such as coal. coal and gas), significantly reducing the overall levelised cost of electricity. Utilities should keep repeating steps 1 - 3 until their systems run on 80 – 90% renewables.

Renewable 399