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Low-speed electric vehicles (LSEVs) could reduce China’s demand for gasoline and, in turn, impact global oilprices, according to a new issue brief by an expert in the Center for Energy Studies at Rice University’s Baker Institute for Public Policy. “ —Gabriel Collins.
Strong continuing international demand for petroleum and other liquids will sustain US production above 2022 levels through 2050, according to most of the cases in the US Energy Information Administration’s (EIA’s) Annual Energy Outlook 2023 (AEO2023).
Despite volatility in global oil markets, US crude oil exports reached a record high in 2020, according to the US Energy Information Administration (EIA). As of 9 July 2021, US crude oil exports have averaged 3.00 The most recent four-week rolling average of US crude oil exports reached 3.51
As oilprices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil’s immediate future. In a speech made at the Association of International Petroleum Negotiators’ 2017 International Petroleum Summit, Johnston laid out his concerns for the future of oil.
Two diametrically opposed views dominate the current debate about where the oilprice is heading. In fact, we have been highlighting this threat to the energy industry in articles since 2015, for example here , here , here and here.) Why an oilprice spike would be bad for the industry. Since (non-U.S.
The US Energy Information Administration (EIA) projects that, absent significant changes in policy or technology, world energy consumption will grow by nearly 50% between 2020 and 2050. Liquid fuels remain the largest source of energy consumption, driven largely by the industrial and transportation sectors.
World petroleum and other liquid fuels consumption will increase 38% by 2040, spurred by increased demand in the developing Asia and Middle East, according to the Reference Case projections in InternationalEnergy Outlook 2014 ( IEO2014 ), released by the US Energy Information Administration (EIA).
World energy consumption by fuel type, 2010-2040. The US Energy Information Administration’s (EIA’s) InternationalEnergy Outlook 2013 (IEO2013) projects that world energy consumption will grow by 56% between 2010 and 2040, from 524 quadrillion British thermal units (Btu) to 820 quadrillion Btu.
Global energy intensity, 1981-2010. Global energy intensity—defined as total energy consumption divided by gross world product—increased 1.35% in 2010, the second year of increases in the context of a broader trend of decline over the last 30 years, according to a new Vital Signs Online article from the Worldwatch Institute.
Oilprices have climbed by about 50 percent from their February lows, topping $40 per barrel. But the rally could be reaching its limits, at least temporarily, as persistent oversupply and the prospect of new shale production caps any potential price increase. by Nick Cunningham of Oilprice.com. More output is bearish.”
It may be difficult to look beyond the current pricing environment for oil, but the depletion of low-cost reserves and the increasing inability to find major new discoveries ensures a future of expensive oil. The IEA predicts that the oil industry will need to spend $850 billion annually by the 2030s to increase production.
Worldwide energy consumption will grow by 53% between 2008 and 2035 with much of the increase driven by strong economic growth in the developing nations, especially China and India, according to the reference case in the newly released InternationalEnergy Outlook 2011 (IEO2011) from the US Energy Information Administration (EIA).
The impact of rising oilprices on North American light tight oil (LTO) production is said to be a “Catch 22”, the title of Joseph Heller’s popular 1961 novel set in WWII. Too many analysts continue to believe drilling and service has the same problem with rising oilprices. by David Yager for Oilprice.com.
Energy demand growth moves to Asia. The newly released 2013 edition of the IEA World Energy Outlook (WEO) depicts a world in which some long-held tenets of the energy sector are being rewritten; importers are becoming exporters, while exporters are among the major sources of growing demand. Source: IEA. Click to enlarge.
In both the base-case and a scenario with more aggressive environmental policies, CO 2 emissions from energy use remain well above the IEA 450 scenario. Non-OECD countries are seen to rapidly increase their share of overall energy demand from just over half currently to two-thirds. Click to enlarge. per year.
These scenarios provide projections based on EIA’s Annual Energy Outlook (AEO) 2012 Reference Case, advances in battery technology (e.g., improved battery chemistry that allows for faster and deeper charging and reductions in battery cell and other component costs), and oilprices increasing to $200 per barrel: Low.
The brief is based on the book, Acting in Time on Energy Policy (Brookings 2009), edited by Kelly Sims Gallagher, director of the Energy Technology Innovation Policy research group at the Harvard Kennedy School’s Belfer Center. Acting in Time on Energy Policy”. International engagement—especially with China—is also a need.
Global demand for fossil fuels will peak this decade due in part to Russia's invasion of Ukraine, which has accelerated many countries' move to renewable energy, according to the InternationalEnergy Agency (IEA).
The global energy map is changing significantly, according to the 2012 edition of the InternalEnergy Agency’s (IEA) World Energy Outlook ( WEO-2012 ). The IEA said these changes will recast expectations about the role of different countries, regions and fuels in the global energy system over the coming decades.
Profound shifts in the regional distribution of oil demand and supply growth will redefine the refining industry and transform global oil trade over the next five years, according to the annual Medium-Term Oil Market Report (MTOMR) released by the InternationalEnergy Agency (IEA).
Energy consumption by light-duty vehicles in the United States, AEO2013 and AEO2014, 1995-2040 (quadrillion Btu). LDV energy consumption declines in AEO2014 Reference case from 16.0 Delivered energy demand for heavy-duty vehicles (HDVs) in AEO2014 increases from 5.3 HDV energy demand is tempered somewhat by an average 0.5%
World primary energy consumption grew by 2.5% Oil remains the world’s leading fuel, but its 33.1% Global energy consumption grew by 2.5% seen in 2010, according to the newly released BP Statistical Review of World Energy, 2012. Global energy consumption grew by 2.5% in 2011, close to the historical average.
Change in primary oil demand by sector and region in the central New Policies Scenario, 2010-2035. At a high level, the report notes that there are few signs that the urgently needed change in direction in global energy trends is underway. Click to enlarge. The passenger vehicle fleet doubles to almost 1.7 billion in 2035.
The US Energy Information Administration released its Annual Energy Outlook 2013 (AEO2013) Reference case (the Early Release ), which highlights a growth in total US energy production that exceeds growth in total US energy consumption through 2040. Biofuels grow at a slower rate due to lower crude oilprices and.
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.
World marketed energy consumption is projected to grow by 44% between 2006 and 2030, driven by strong long-term economic growth in the developing nations of the world, according to the reference case projection from the InternationalEnergy Outlook 2009 ( IEO2009 ) released today by the US Energy Information Administration (EIA).
Such an increase in capacity could prompt a plunge or even a collapse in oilprices, he suggests. But if oilprices remain above about $70 per barrel, sufficient investment will occur to sustain continued growth in production, possibly leading to a stable phenomenon of oil overproduction after 2015.
The new Indy fleet vehicles will include 100% electric models, such as the Nissan LEAF, as well as plug-in hybrid models like the Chevrolet Volt and the Ford Fusion Energi, which offer extended range. America’s dependence on oil ties our national and economic security to a highly-unpredictable, cartel-influenced global oil market.
A new study by the Peterson Institute for International Economics concluded that the Kerry-Lieberman “American Power Act”—the energy and climate change legislation recently introduced in the Senate ( earlier post )—would reduced US oil imports by 33-40% below current levels and by 9-19% below projected business-as-usual levels by 2030.
Driven by a number of growing concerns including the increasingly worrying geopolitics of oil, governments and industry are investing heavily to accelerate the development of low carbon technologies that aim to reduce, replace or obviate the use of fossil fuels in the energy mix.
Opcon, in collaboration with Wallenius Marine, recently completed the first reference installation of its Waste Heat Recovery technology for ocean-going vessels in a project supported by the Swedish Energy Agency. By utilizing waste heat and recovering the energy, significant environmental gains can be made. Earlier post.)
However, the US military can play an important role in promoting stability in major oil producing regions and by helping protect the flow of energy through major transit corridors and on the high seas, the reports suggest. Alternative liquid fuels do not offer DoD a way to appreciably reduce fuel costs. Additionally, U.S.
In 2008, a report by UNEP called for the elimination of fossil-fuel subsidies, concluding that such subsidies often lead to increased levels of consumption and waste; place a heavy burden on government finances; can undermine private and public investment in the energy sector; and do not always end up helping the people who need them most.
The MIT Energy Initiative (MITEI) has released a report on the proceedings—and papers that informed those proceedings—of the 8 April 2010 symposium on The Electrification of the Transportation System: Issues and Opportunities. The symposium was sponsored by the MIT Energy Initiative, together with Ormat, Hess, Cummins and Entergy.
Energy efficiency has tremendous potential to boost economic growth and avoid greenhouse gas emissions, but the global rate of progress is slowing, according to a new report by the InternationalEnergy Agency. Global primary energy demand rose by 2.3% This was slower than the 1.7% of total transport final demand.
gigatonnes (Gt) in 2011, according to preliminary estimates from the InternationalEnergy Agency (IEA). Coal accounted for 45% of total energy-related CO 2 emissions in 2011, followed by oil (35%) and natural gas (20%). Global CO 2 emissions from fossil-fuel combustion reached a record high of 31.6 Gt on 2010, or 3.2%.
In the paper, the researchers link econometric models of the production profitability of 1,933 global oilfields (representing about 90% of the world’s supply in 2015) with their production carbon intensity, a measure of the amount of carbon emitted per unit of energy (or barrel of oil) produced.
We would expect that new reserves of conventional and unconventional oil may become available for exploration due to geological exploration and advances in oil extraction techniques or that extraction from less feasible oil fields becomes more economically attractive. All of these factors would change our predicted outcome.
A new study by the French institute Enerdata, commissioned by the European Federation for Transport & Environment (T&E), suggests that the European CO 2 standards for new vehicles due to come into effect in 2012 will lead not only to a European savings on oil (mainly via lower oil import volumes) but also to slightly lower global oilprices.
OPEC (Organization of the Petroleum Exporting Countries) has been the most talked about international organization among investors, analysts and international political lobbies in the last few months. Containing some of the largest proven oil and gas reserves in the world, Venezuela is one of the founding members of OPEC.
The resulting crash in oilprices is forcing some production out of the market, and Saudi Arabia intends for the brunt of that to be borne by others. There is a lag between movements in the oilprice and corresponding changes in production. But the effects of the oilprice crash are now being felt.
This year, shale output forecasts combine with OPEC’s production cuts, geopolitical factors, and unexpected outages to further complicate supply/demand and oilprice forecasts by Wall Street’s major investment banks. According to the IEA, supply could lag demand in a few years, which could lead to a surge in oilprices. “
Although electric vehicles (EVs) are making headlines, they are not yet a market force to replace the internal combustion engines that power today’s automotive fleets, so oil demand is currently growing strong. percent of the global vehicle fleet; so their influence on the oil market, in the short term, is limited.
Despite what appears to be a saturated oil market in 2014, oil producers around the world will struggle to meet rising demand over the next few decades. A year ago, after the IEA released its 2013 WEO, I wrote about how the IEA was placing a surprising amount of faith in the ability of Iraq to scale up its oil production.
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