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The COVID-19 pandemic has significantly affected both consumer and commercial transportation, but global oil demand will probably continue to grow through 2030, according to a new study. In three of the four scenarios, global oil demand continued to grow through 2030. Lines represent global oil demand by study scenario.
Veteran automakers, oil companies, and federal and state governments have been both the prime movers and obstacles to plug-in cars in the past and they remain so today. In addition to the California funds there is federal stimulus money, $41 million by mid-April, being doled out to their projects, many of zero environmental benefit.
However, its overall merits are open for debate after a study by UC Davis transportation economist Christopher Knittel questioned the implied costs of reducing greenhouse gas emissions. Of course any upward momentum is to be welcomed and Congress has now approved a further $2billion as an emergency top-up for the programme (see article ).
Dr. Paul addressed a positive change—the days of increasing US oil consumption may be over. “ We reached peak oil consumption in the US in 2008 and the same is true in the EU and Japan. ” M barrels/day of oil within the next 10 years ”. Dr. Paul still sees significant growth in the developing world. Billion vs. $28.3
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