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Researchers at Argonne National Laboratory, with colleagues from Lawrence Berkeley, Oak Ridge, and National Renewable Energy labs, and the University of Tennessee, have published a comprehensive analysis of the total cost of ownership (TCO) for 12 sizes of vehicles ranging from compact sedans up to Class 8 tractors with sleeper cabs.
In an effort to address the rapidly increasing cost of gasoline, President Biden authorized the release of 1 million barrels of oil per day for the next six months—more than 180 million barrels—from the Strategic Petroleum Reserve (SPR). million barrels of sweet and 200,000 barrels of sour crude oil.
This post examines the recent changes in the costs of powering gasoline, diesel, and electric vehicles. The expectation was that the cost of electricity had recently increased much less than the costs of gasoline and diesel. The reason is that, in the United States, oil is used to generate less than 1% of electricity.
billion program of pipeline expansions to carry an additional 400,000 barrels per day (bpd) of light oil from North Dakota and western Canada to refinery markets in Ontario, Quebec and the US Midwest. Estimated capital cost of this project is approximately $2.5 Initial capacity of 300,000 bpd at an estimated cost of $0.8
a Canadian mid-stream company, and Kinder Morgan Energy Partners formed a 50-50 joint venture to build a crude oil rail loading facility in Edmonton, Alberta, called the Alberta Crude Terminal. Keyera Corp., Kinder Morgan is proposing to construct a 16-inch pipeline to connect its North 40 Edmonton Terminal to Keyera’s Edmonton Terminal.
A new report by EY finds that 64% of multibillion-dollar, technically and operationally demanding oil & gas megaprojects continue to exceed budgets, with 73% missing project schedule deadlines. On average, current project estimated completion costs were 59% above the initial estimate. Source: EY Megaprojects oil and gas report.
In general, a one-mile road in a rural area costs at least a million dollars to build. With the waste cooking oil technology, we can reduce the cost of asphalt binder to under $200 per ton, making road building much cheaper. Building roads is a big investment in taxpayer money. —Haifang Wen.
The government of Jordan and the Saudi Arabian Corporation for Oil Shale (SACOS) recently signed a $2-billion agreement under which the government grants the Saudi company the right to extract and to develop the oil shale resources in the Attarat Um-AL-Ghudran region covering an area of 11 square kilometers.
Researchers from Carnegie Mellon University and the University of Pittsburgh have found that the air pollution and greenhouse gas costs of shipping crude by rail are nearly twice as large as those for oil pipelines. Movements of petroleum products, particularly crude oil, have received enormous media attention. Clay et al.
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. Oil use grows, but in a narrowing set of markets.
Oil demand for transportation fuel see its “ demand will flatten out ,” after 2030, Couse said. Colin McKerracher, head of advanced transport analysis at Bloomberg New Energy Finance, sees Couse’s forecast as the highest EV sales margin yet to be forecasted by a major company in the oil sector. Maybe even decline. ”.
of China (COMAC) opened a demonstration facility that will turn waste cooking oil, commonly referred to as “gutter oil” in China, into sustainable aviation biofuel. billion liters) of biofuel could be made annually in China from used cooking oil. Boeing and Commercial Aircraft Corp.
The latest crash in oil prices once again raises this prospect. On the one hand, lower oil prices – despite the recent rebound, prices are still down sharply from a few months ago – can cause some E&Ps to want to hold off on drilling new wells. oil production aloft at a time when low prices are starting to curtail drilling activity.
The US Environmental Protection Agency (EPA) is proposing comprehensive new regulations to reduce methane emissions from the oil and natural gas industry—including, for the first time, reductions from existing sources nationwide. Source: EPA. billion a year.
Underinvestment in oil and gas development extended into a second year in 2021 even as global energy demand rebounded, raising the prospect of price shocks, scarcity and growing energy poverty, according to a new report by the International Energy Forum (IEF) and IHS Markit. —Joseph McMonigle, secretary general, IEF.
The ability to use new multi-material additive manufacturing technologies to combine the manufacturing of microchannels with high-surface-area catalyst supports in one process step, has the potential to significantly reduce the costs of these reactors. —OSU lead researcher Brian Paul. Image: Oregon State University).
The technical areas of interest are: The Energy Department will fund up to ten feasibility studies and/or applied research and development projects to advance technologies that could lower the cost of geothermal energy production while diversifying and stabilizing the supply of rare earth elements. Earlier post.).
Aemetis announced that its Universal Biofuels subsidiary in India, owner and operator of a biodiesel plant located near the Port of Kakinada on India’s east coast, was selected by the three government-controlled oil marketing companies (OMCs) and a major oil refiner to supply approximately 8,000,000 gallons of biodiesel over the next two months.
Two diametrically opposed views dominate the current debate about where the oil price is heading. On the other hand, however, there is the view that the price of oil is set to explode, primarily due to underinvestment in the upkeep of brownfields , development of greenfields , and exploration for new resources. We will explain.
Gold Hydrogen is a novel source of carbon neutral hydrogen produced from depleted oil reservoirs that are ready for plug and abandonment, extending the life of wells that would otherwise be a significant burden. Cemvita Factory’s mission is to reimagine heavy industries such as oil & gas and mining for the net-zero economy.
Under the trial, sustainable Bio-Fuel Oil was used in a blend with conventional fossil-based marine fuels to power a vessel on a major oceangoing route. Both applications of the Bio-Fuel Oil showed a positive result, thus proving the technical compatibility of sustainable marine biofuels. Earlier post.).
Reduced friction losses and pressure control with low-viscosity oil. For this purpose, the third-generation OM 471 has a newly developed engine oil pressure control valve. It is installed behind the engine oil pump and in front of the oil thermostat.
An upgrade from the previous fueling station offering oil, gas, hydrogen, electric charging services, the integrated complex can produce 1,000 kilograms of hydrogen a day, with a purity of 99.999%. Sinopec’s solution has tackled the bottlenecks of low transport capacities, high costs and long loading times. Sinopec Fuel Oil Sales Co.,
Conventional oil and gas discoveries during the past three years are at the lowest levels in seven decades and a significant rebound is not expected, according to a new report by global business information provider IHS Markit. —Keith King, senior advisor at IHS Markit and a lead author of the IHS Markit E&P trends analysis.
The US oil and gas sector was responsible for $77 billion in total health impacts in 2016, according to a newly released study. more… The post The annual US health cost of oil and gas production is $77B – here’s how we fix that appeared first on Electrek.
The grant will provide $10 million in the first year, which will fund the consortium members, in collaboration with more than 100 partner entities, to develop a roadmap to accelerate the growth and development of geothermal, leveraging expertise, technologies, and methods from the oil and gas industry. —John Boden of SPE
In the last quarter of 2014, in the face of possible oversupply, Saudi Arabia abandoned its traditional role as the global oil market’s swing producer and therefore it role as unofficial guarantor of existing ($100+ per barrel) prices. The Saudis obviously miscalculated the degree to which their shift would negatively impact oil prices.
Researchers at Universidade Federal de Minas Gerais in Brazil have produced biohydrocarbons in the distillation ranges of gasoline, diesel and aviation kerosene from palm kernel oil and palm olein using beta zeolite (HBeta) under relatively mild process conditions. The researchers performed a special heat treat on the zeolite before testing.
But these are just the costs of lifting oil out of the ground. State-owned oil companies often have many more responsibilities than just producing oil. They underpin generous spending levels by their governments, and thus any estimate of a “breakeven” price should include the cost of those obligations.
The Saudi Arabian Oil Company (Aramco) signed five agreements with leading French companies, including an agreement to explore a hydrogen-powered vehicle business with Gaussin , a pioneer in clean and intelligent transport solutions.
Engineers at the University of Pittsburgh Swanson School of Engineering are using membrane distillation technology to enable drillers to filter and reuse the produced water in the oil and gas industry, in agriculture, and other beneficial uses. The method is already being tested in Texas, North Dakota, and most recently in New Stanton, Pa.
The oil industry is asking for carveouts from tariffs which will raise its cost of doing business and your cost of energy after spending tens of millions in bribes on a candidate that promised to raise everyones costs.
The study provides a comprehensive lifecycle analysis (LCA), or cradle-to-grave (C2G) analysis, of the cost and greenhouse gas (GHG) emissions of a variety of vehicle-fuel pathways, as well as the levelized cost of driving (LCD) and cost of avoided GHG emissions. Levelized cost of driving (LCD). no scenario analysis.
. : Average maintenance/repair costs over vehicle lifetime. According to CR’s experts, simpler powertrains in EVs and no need for oil changes are likely reasons for the lower costs. The full white paper will be published in the coming weeks. For this report, ‘vehicle lifetime’ was defined as 200,000 miles.
Additionally, LNG engines are tuned to either emit low nitrogen oxide (NO x ) emissions—at the cost of higher methane emissions in some cases—or to incorporate NO x reduction technologies such as exhaust gas recirculation (EGR) or selective catalytic reduction (SCR). LNG is becoming popular for several reasons. Credit: The ICCT.
This is a landmark step in revitalizing our aging fleet and replacing expensive internal combustion engine vehicles with cutting-edge EV technology, all while reducing our dependence on oil and saving Indianapolis taxpayers thousands in fuel costs each year.
US shale production—the chief source of rapid growth that made the United States the world’s largest oil producer—is slowing down fast, says a new report by IHS Markit. Investors are imposing capital discipline on E&P’s by pushing down equity prices and pushing up the cost of capital on debt markets. —Raoul LeBlanc.
Costs ranged from a low of 0.3% of GDP in China to nearly 6% of GDP in Saudi Arabia, where, despite two cycles of price hikes, 60% of the cost of energy products and services continued to be borne by the state. 5 consumer of oil,” Krane said. Subsidies remained sticky outside the G20 as well.
This slower growth is attributed to the relatively higher cost of the vehicles, driven by the cost of batteries. China will see the largest increase—more than 4 million oil-equivalent barrels per day. The outlook projects that oil and natural gas will continue to meet about 60% of energy needs by 2040. Natural gas.
A possible answer, though, might lie in oil wells. The California-based Hyperlight Energy will be piloting an installation where they plan to use existing oil wells as solar thermal wellsprings, with the stored energy being converted back to clean electricity when required. But we can still reduce the carbon [cost] of that oil.”
Cool Planet Energy Systems projects that using its patented mechanical process and novel scaling approach ( earlier post ), it will be able to produce high-octane carbon-negative (with the use of its bio-char byproduct) renewable gasoline at a cost of $1.50 per gallon, without the need for government subsidies.
Hydrogen used for treating crude or bio-crude oil to produce jet fuel with a lower carbon intensity is also considered as an early-stage application. Scaling-up the electrofuel industry will require a coordinated effort on the part of the broader industry (including upstream oil and gas), governments and research institutions globally.
The research estimates that the growth of EVs will mean they represent a quarter of the cars on the road by that date, displacing 13 million barrels per day of crude oil but using 1,900 TWh of electricity. The projected change between now and 2040 will have implications beyond the car market. Although some 1.3
The Long-Term Electric Vehicle Outlook outlines two scenarios for the uptake of electric transport to 2050, and examines impacts on demand for batteries, materials, oil, electricity, infrastructure and emissions. million barrels of oil demand per day. Yet, the rising cost of batteries will not derail near-term EV adoption.
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