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China processed record amounts of crude oil in 2021 to meet rising domestic consumption of petroleum products, according to analysis by the US Energy Information Administration (EIA). According to China’s National Bureau of Statistics, China processed a record 14 million barrels per day (b/d) of crude oil in 2021, a 4.6%
Oilprices appear to be stuck in the $50s per barrel, but that doesn’t mean there aren’t serious supply risks to the market. An unexpected disruption could occur at any moment, as has happened in the past, leading to a sudden and sharp jump in prices. The threat of an outage will carry more weight as the oil market tightens.
Change in primary oil demand by sector and region in the central New Policies Scenario, 2010-2035. 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. Click to enlarge. billion in 2035.
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.
Sustainable Development Technology Canada (SDTC) is awarding Nsolv $13 million in grant funding to commercialize its field-tested, proprietary warm solvent technology for in situ heavy oil extraction without the use of steam. The oil is sent to refineries for further processing. Coke-forming asphaltenes are sequestered.
The financial pages of Canadian newspapers have been full of headlines lately announcing the potential of two large shale oil fields in the Northwest Territories said to contain enough oil to rival the Bakken Formation of North Dakota and Montana. billion barrels. enthused the Financial Post.
The production costs for most chemicals via microbial fermentation are currently high compared to oil-derived products primarily because of operating costs associated with feedstock and feedstock processing. One way to mitigate high feedstock cost is to maximize conversion into the bioproduct of interest. Jones, Alan G. Fast, Ellinor D.
The authors presented three process models for production of renewable aviation fuel from microalgae, Pongamia pinnata seeds and sugarcane molasses to produce a minimum selling price for aviation biofuel. Pongamia pinnata is a legume tree which produces a seed rich in oil.) million project.
When oilprices rose to new highs in the 1970s, Brazil invested in ethanol created from the its sugar cane crops. The study was funded by two grants from the National Institutes of Health, a BRASKEM/FAPESP grant, and support from ETH Bioenergia, a Brazilian company that produces ethanol and sugar from sugar cane.
In addition, the industry faces barriers from the impending “blend wall” of 10% ethanol in gasoline and uncertainty regarding policies and oilprices. Environmental Protection Agency drastically lowering the amount of cellulosic biofuel that must be blended into gasoline and diesel each year.
And, by reducing dependence on foreign oil imports, AVTA will no longer be subject to oilprice volatility for its bus fleet—helping to create greater stability for budget forecasting for the fleet manager.
Red Rock’s first refinery, funded in part by a $70-million Title III DPA grant from the U.S. FedEx joins Southwest Airlines, which signed a purchase agreement with RedRock in November 2014 for about 3 million gallons per year, in purchasing Red Rock’s total planned available volume of jet fuel. Earlier post.).
The Annual Energy Outlook 2011 (AEO2011) Reference case released yesterday by the US Energy Information Administration (EIA) more than doubles the technically recoverable US shale gas resources assumed in AEO2010 and added new shale oil resources. US crude oil production increases from 5.4 World liquids consumption grows from 83.7
Using government oilprice projections, pure electric vans will still have a 10% cost of ownership premium over diesel in 2030. A 64 kW hydrogen fuel cell (suitable for use in a panel van) decreases in cost from £52,000 (US$82,000) in 2011 to £4,800 (US$7,600) in 2020, a reduction of more than 90%. Source: Element Energy.
Reward communities that invest in electric vehicle infrastructure through competitive grants: To provide an incentive for communities to invest in EV infrastructure and remove regulatory barriers, the President is proposing a new initiative that will provide grants to up to 30 communities that are prioritizing advanced technology vehicle deployment.
The UW team is the first to try converting the entire young tree—leaves, bark and stems—into bio oil and ethanol using two separate processes. We have the environmental incentives to produce fuels and chemicals from renewable resources, but right now, they aren’t enough to compete with low oilprices. 7b01000.
This collaboration comes at a timely moment, on the back of rising oilprices. NTU researchers will work closely with our partners to develop better catalysts, and more efficient reactors for extracting hydrogen. This will not only benefit its citizens, but also support the country’s vision of becoming a more sustainable nation.
The best cost estimates of cellulosic biofuel are not economical compared with fossil fuels when crude oil’s price is $111 per barrel. This could create competition among different land uses and, in turn, raise cropland prices. Economic effects.
One in four business leaders have already making use of -or are considering introducing -alternative fuel vehicles to their business operations as oilprices remain stubbornly high.
As one example of factors contributing to that decision, a survey of projected oilprices returned values between $30 and $250 a barrel, he said.). Although EPA has yet to grant the waiver, Cackette spoke as if it were a certainty.) Cackette described this transformation as occuring in three phases.
However, consumer demand for PEVs is quite uncertain and, barring another global spike in oilprices, may be limited to a minor percentage of new vehicle purchasers (e.g., National Goal of One Million Plug-In Electric Vehicles. Automakers could ramp up PEV production if consumer demand proves to be larger than expected.
Speaking at a Press conference Menendez highlighted the problems of 2008 as an indicator of the problems that wild fluctuations in oilprices can cause, as well as the obvious problems that pollutants from dirty fuels cause for the environment.
News | Markets | Technology | Personal Finance | Small Business | CNN.com RSS Newsletters Video Home Fortune 500 Technology Investing Management Rankings Andy Grove on battery power To wean itself from imported oil, the U.S. will be competing for the same finite supplies of oil and gas. must create a strong electric car industry.
The US Department of State (DOS) has released its Draft Supplemental Environmental Impact Statement (SEIS) in response to TransCanada’s May 2012 application for the Keystone XL pipeline that would run from Canada’s oils sands in Alberta to Nebraska. The pipeline would primarily transport crude oil from the WCSB and Bakken regions.
The government will make direct grants to automakers (as we do, of course) and also provide “subsidies of up to $8,800 are being offered to taxi fleets and local government agencies in 13 Chinese cities for each hybrid or all-electric vehicle they purchase.”
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