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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 International Energy Agency (IEA). The oil market is at a crossroads.
According to the base case forecast, diversification of energy sources increases and non-fossil fuels (nuclear, hydro and renewables) are together expected to be the biggest source of growth for the first time. OECD oil demand peaked in 2005 and in 2030 is projected to be roughly back at its level in 1990. Coal will increase by 1.2%
The US State Department has issued a Presidential Permit to Enbridge Energy, Limited Partnership to enable construction of the Alberta Clipper pipeline for the transport of crude oil from the Canadian oilsands to US refineries. In early August, the Renewable Fuels Association launched a “They Said What?” Earlier post.).
Renewables That Even Coal-Based Utilities Can Love. Individuals and businesses lose months and connect fees when they add solar and other forms of renewable energy to the grid. Millions of EVs and PHEVs would expand the sale of electricity as an alternative to oil. ► January (13) What Goes Down, Must Go Up? Email Neal.
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. Earlier post.). Unless addressed, pipeline security issues will impede investment in Turkey, Bartis suggested.
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