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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.
The collapse in world oilprices in the second half of 2014 will have only a moderate impact on the fast-developing low-carbon transition in the world electricity system, according to research firm Bloomberg New Energy Finance. However, the slump in the Brent crude price per barrel from $112.36 on 30 June to $61.60
EIA expects sustained global demand for petroleum products and Saudi Arabia’s extended voluntary production cuts will contribute to oilprices rising through the year. The Brent crude oilprice was near $75 per barrel at the beginning of July and increased throughout the month to surpass $86 per barrel on 4 August.
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.
The US Energy Information Administration (EIA) expects global consumption of liquid fuels such as gasoline, diesel, and jet fuel, to set new record highs in 2024. EIA also expects oil production in Canada, Brazil, and Norway collectively to grow 12% from 2022 to 2024, and also expects growth from new sources such as Guyana.
Despite the increases in production, EIA expects the Brent crude oilprice to remain above $100 per barrel this year, according to the agency’s May 2022 Short-Term Energy Outlook (STEO). EIA forecasts that retail sales of electricity to the industrial sector will grow by 2.8% The Henry Hub natural gas price will average $8.59
GlobalData research shows that lower oilprices as a result of the COVID-19 crisis could reduce electric vehicle demand and impair EU efforts to significantly reduce average new vehicle CO 2 emissions in the European car market. However, the amount of time taken to make up that price differential depends on the cost of fuel.
The Nikkei reports that the nationwide average price in Japan for regular gasoline was ¥139.8 Prices at the pump are falling in Japan not only due to lower crude oilprices, but also because the widespread popularity of fuel-efficient vehicles has lowered demand for gasoline.A per liter ($6.65
The Sandia researchers showed that the key to meeting the RFS2 targets is the fuel price differential between E85 fuel and conventional gasoline (low ethanol blends), so that E85 owners refuel with E85 whenever possible. The model has four sub-components: vehicle, fuel production, electricity grid; and energy supply.
The oilprice shocks of the 1970s led the Brazilian government to address the strain high prices were placing on its fragile economy. Brazil, the largest and most populous country in South America, was importing 80% of its oil and 40% of its foreign exchange was used to pay for that imported oil.
” Their analysis is in the context of the “ surprising [oil] demand strength of 2010 “; 2010 saw absolute incremental demand at around 2.2mb/d of growth—the second highest in 30 years, despite oilprices in the $90/bbl region. gallon gasoline. Click to enlarge.
The results of a new, comprehensive modeling study characterizing light-duty electric drive vehicle (EDV) deployment in the US over 108 discrete scenarios do not demonstrate a clear and consistent trend toward lower system-wide emissions of CO 2 , SO 2 , and NO x as EDV deployment increases.
The City of Indianapolis will upgrade 425 non-police-pursuit sedans in its muncipal fleet to plug-in hybrid and battery electric vehicles by early 2016, cut the size of the fleet by 100 vehicles, and save $8.7 America’s dependence on oil ties our national and economic security to a highly-unpredictable, cartel-influenced global oil market.
Despite efforts to continue stimulating the US economy in the wake of the pandemic, high inflation put a damper on economic growth, which was exacerbated by a spike in oilprices as a result of Russia’s invasion of Ukraine. Consequently, the US economy grew 1.9% in 2022, down from a 5.7% GDP increase in 2021.
US regular gasoline retail prices averaged $2.78 In June, monthly retail gasolineprices averaged $3.06/gal, EIA forecasts regular-grade gasolineprices to average $2.92/gal Electricity. EIA forecasts that US retail sales of electricity will increase by 2.8% million b/d in 2022. gal in 1H20.
A sudden drop in miles traveled by car in the US triggered by wide-spread social isolation measures will have immediate ramifications for gasoline demand. IHS Markit analysis finds that US gasoline demand could fall by as much as 4.1 The four-week average US gasoline demand for the week ending 6 March 2020 was 9.1
The “Arab Spring” affected oil and gas supplies—most notably the complete, albeit temporary, loss of Libyan supply—while the tragic Fukushima accident in Japan had knock-on effects for nuclear and other energy sources around the world. Prices increased in all regions. more as natural gas was diverted to Asia. Renewables.
The current plunge in oilprices will likely negatively affect plug-in and hybrid vehicle sales in the short term; automakers such as BMW are already warning of lower sales of plug-in vehicles given the market context. Anticipated price of oil and forecast plug-in sales. Lux on the price of oil.
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.
This larger resource leads to about double the shale gas production and more than 20% higher total lower-48 natural gas production in 2035, with lower natural gas prices, than was projected in the AEO2010 Reference case. According to the forecast, unconventional vehicles will represent more than 40% of US light-duty vehicle sales in 2035.
Among the more detailed transportation projections in AEO2014 are: LDVs powered by gasoline remain the dominant vehicle type in the AEO2014 Reference case, retaining a 78% share of new LDV sales in 2040, down from their 82% share in 2012. New vehicle sales shares are generally similar in AEO2014 and AEO2013 but with moderate variation.
Transportation sector gasoline demand declines. Sales of battery-powered electric vehicles are 65% lower in the AEO2013 Reference case than the year before, with annual sales in 2035 estimated to be about 119,000. Domestic oil production will rise to 7.5 Motor gasoline consumption will be less than previously estimated.
BCG’s analysis finds that cellulosic ethanol is on the verge of becoming cost-competitive with gasoline at $3/gal US. ” also sees steady adoption of on-shore wind and electric vehicle technologies, but suggests that off-shore wind and carbon capture and sequestration look likely to fade or decline. Click to enlarge.
According to a recently published report commissioned by the Victoria (Australia) Department of Transport from AECOM, electric vehicle (EV) technology offers the state of Victoria potentially significant economic benefits by the late 2020s. electricity supply to provide the necessary protections from higher voltages. Scenario 1.
EIA also forecasts the Brent crude oilprice will average $64 per barrel this summer, a 78% increase from last summer’s average of $36 per barrel. That price increase paired with an increase in gasoline and diesel demand will likely increase the cost of regular gasoline and diesel fuel this summer. gal last summer.
AEO2015 presents updated projections for US energy markets through 2040 based on six cases (Reference, Low and High Economic Growth, Low and High OilPrice, and High Oil and Gas Resource) that reflect updated scenarios for future crude oilprices. trillion cubic feet (Tcf) in the Low OilPrice case to 13.1
The study, in press in the Journal of Power Sources , examines the efficiency and costs of current and future EVs, as well as their impact on electricity demand and infrastructure for generation and distribution, and thereby on GHG emissions. All reference car configurations except the diesel use gasoline engines, because the.
For summer 2017, EIA forecasts motor gasoline consumption to average 9.5 EIA expects that domestic refinery production, including gasoline blendstock output, will be about 20,000 b/d lower this summer than last summer. of total gasoline consumption. For all of 2017, the forecast average price for regular gasoline is $2.39/gal,
Further, improved supply prospects for natural gas are likely to lead to decoupling of oil and gas markets, according to the study. Diesel and gasoline demand disparity. The industry may need to make significant investments to match production with demand, particularly to balance gasoline and distillate production.
Fuel prices are among the highest in the US. Electricity costs are the highest in the US. Based on what we know today ,” said Kissel, “ we believe that the cost of the fuel will be comparable to gasoline on a per mile driven basis. What’s happening here [in terms of energy prices] is happening elsewhere in the world.
gasoline in cars) to electricity in order to achieve the GHG reduction target. They conclude that widespread electrification of transportation and other sectors is required, along with decarbonized electricity becoming the dominant form of energy supply. rather than relative prices of technology, energy, or carbon as.
In two other scenarios considered, a high oilprice scenario (using EIA projections) and a battery swap operator-subsidzied scenario, EV new vehicle sales penetration reaches 85% and 86% respectively by 2030. Electric Cars in the United States: A New Model with Forecasts to 2030” was written by Thomas Becker, a Ph.D.
Under the WEO 2011 central scenario, oil demand rises from 87 million barrels per day (mb/d) in 2010 to 99 mb/d in 2035, with all the net growth coming from the transport sector in emerging economies. The number of people without access to electricity remained unacceptably high at 1.3 The passenger vehicle fleet doubles to almost 1.7
Costs of light-duty plug-in hybrid electric vehicles (PHEVs) are high—largely due to their lithium-ion batteries—and unlikely to drastically decrease in the near future, according to a new report from the National Research Council (NRC). It has a 40-mile electric range, a larger electric motor, and a much larger battery than the PHEV-10.
liter V8 engine with VVEL (variable valve event and lift) and DIG (direct injection gasoline) technologies delivers 400 hp (298 kW) and 560 N·m (413 lb-ft) of torque on the top specification version. I want electric car (to) mean Renault or Nissan, period,” he said. The newly developed VK56VD 5.6-liter
A new study by Bloomberg New Energy Finance (BNEF) forecasts that sales of electric vehicles will hit 41 million by 2040, representing 35% of new light duty vehicle sales worldwide. This would be equivalent to nearly 8% of global electricity demand in 2015. At the core of this forecast is the work we have done on EV battery prices.
In addition to high oilprices and the financial crisis, the increased use of new renewable energy sources, such as biofuels for road transport and wind energy for electricity generation, had a noticeable and mitigating impact on CO 2 emissions. Global CO 2 emissions from fuel use and cement production by region. Source: PBL.
As one example of factors contributing to that decision, a survey of projected oilprices returned values between $30 and $250 a barrel, he said.). Dividing that forecast in to application segments—micro-, mild-, full-, and plug-in hybrids; mini-electric (e.g., By 2015, he suggests, full hybrids (e.g., Data: Tom Cackette, ARB.
Very broadly, they found that an LCFS would buffer the economy against global oilprice spikes, trim demand for petroleum, and lessen upward pressure on gas prices. Set a target of reducing the carbon intensity of gasoline and diesel by 10 to 15 percent by 2030. Create separate fuel pools for gasoline and diesel.
“Betting on Science – Disruptive Technologies in Transport Fuels” selected 12 innovations in electrification and genetically modified biofuels, as well as existing fuel sources that will have the most immediate impact on emissions and on the gasoline and diesel markets. by 2014) and also examines different global markets.
Renault is currently working on the development of low-emission and zero-CO 2 emissions vehicles in what it calls “ a determined bid ” to introduce as many effective technologies as possible at an affordable price. Electric motors. Renault is aiming to become the industry leader in the realm of mass-market electric vehicles.
A new study sponsored by Indiana University concludes that President Obama’s vision of one million plug-in electric vehicles (PEVs) on US roads by 2015 will require concentrated efforts action from all stakeholders— the auto industry, federal government, the scientific community, and consumers—to be realized. —John D.
per liter gasoline equivalent ($1.37 – $2.16 per liter gasoline equivalent ($0.96 per liter gasoline equivalent ($0.96 Field-to-wheel CO 2 emissions and petroleum use for mature biorefinery scenarios relative to a conventional gasoline base case. per gallon) at the same scale and financial structure. Laser et al.
not enthusiast or pioneer—adoption of coming plug-in hybrid electric vehicles (PHEVs), given current market conditions and consumer awareness and attitudes. The most frequent designs resulting from the game include higher charge-sustaining (CS) and charge-depleting (CD) blended operation—few valued all-electric range. Ken Kurani.
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