Remove Gas Remove Libya Remove Price
article thumbnail

bp Statistical Review shows 4.5% drop in primary energy consumption in 2020; mainly driven by oil

Green Car Congress

Natural gas prices declined to multi-year lows; however, the share of gas in primary energy continued to rise, reaching a record high of 24.7%. Country wise, Russia (-1 million b/d), Libya (-920,000 b/d) and Saudi Arabia (-790,000 b/d). The oil price (Dated Brent) averaged $41.84/bbl million b/d) and non-OPEC (-2.3

2020 397
article thumbnail

Increase in US rig count will not cap oil prices

Green Car Congress

The impact of rising oil prices 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 oil prices. by David Yager for Oilprice.com.

article thumbnail

BP Statistical Review finds global oil share down for 12th year in a row, coal share up to highest level since 1969; renewables at 2%

Green Car Congress

Oil demand grew by less than 1%—the slowest rate amongst fossil fuels—while gas grew by 2.2%, and coal was the only fossil fuel with above average annual consumption growth at 5.4% Brent oil prices were on average 40% higher than 2010 and exceeded $100 a barrel for the first time ever; at $111.26/bbl, globally, and 8.4%

Coal 261
article thumbnail

U.S. Drivers: Shut Up, Stop Whining, You Don't Pay $8/Gallon

Green Car Reports

Turmoil in Libya is making global oil markets nervous. That means higher gasoline prices. So gas is over $3 a gallon, maybe even edging close to $4. Cue the creeping unease and outright fear that Our American Way Of Life May Be In Peril. Well, it's Monday morning, and we have a brisk message for our U.S.

Libya 160
article thumbnail

Opinion: Who Will Be Left Standing At The End Of The Oil War?

Green Car Congress

Breakeven prices are hard to pin down, and harder yet because they fluctuate. OPEC governments downsize their budgets, cut social spending and put big projects on hold to lower the breakeven price. It’s probably more concerned about regaining the market share it lost under sanctions than it is about low prices.

article thumbnail

Opinion: How Much Longer Can OPEC Hold Out?

Green Car Congress

Simply put, the world has too much oil at the moment which has resulted in the reduction of price levels from approximately $100 to $50 a barrel, and OPEC (as well as US shale producers) has a major role to play in this supply glut. Iran Nuclear Deal: A warning sign for OPEC? Venezuela’s Woes. Iraq’s Issues.

article thumbnail

Global CO2 emissions up 3% in 2011; per capita CO2 emissions in China reach EU levels

Green Car Congress

savings stimulated by high oil prices led to a decrease of 3% in CO 2 emissions in the European Union and of 2% in both the United States and Japan. tonnes per capita, despite a decline due to the recession in 2008-2009, high oil prices and an increased share of natural gas. Natural gas consumption increased globally by 2.2%

2011 236