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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
As oilprices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil’s immediate future. With this kind of impending discrepancy between supply and demand, the industry needs to start looking for new sources of oil, and quickly. by Haley Zaremba for Oilprice.com.
In its interim report for January–September 2012, Neste Oil said that while the third-quarter performance of its Renewable Fuels business (NExBTL) improved by €38 million (US$49 million) from the corresponding period last year, the business still recorded a loss due to low margins, particularly during the first part of the quarter.
At the current pace of research and development, replacing gasoline and diesel with renewable fuel alternatives could take some 131 years, according to a new University of California, Davis, study using a new sustainability forecasting approach based on market expectations. The forecast was published online 8 Nov.
A team from the University of Tennessee and the National Renewable Energy Laboratory (NREL) has the fuel savings due to fuel economy improvements over the past 43 years amount to approximately two trillion gallons of gasoline. gasoline demand would have put upward pressure on world oilprices.
The International Council on Clean Transportation (ICCT) has released a report prepared by the consultancy Cerulogy that explores the potential market and environmental impacts of increased capacity for renewable diesel produced by hydrotreating oils and fats in the US. —from the report, “Animal, vegetable or mineral (oil)?”.
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. That has sparked a renewed sense of optimism among oil traders.
Brazil’s fuels regulator, ANP, has cleared the way for the commercialization in Brazil of Amyris renewable jet fuel in blends of up to 10%. Building on the revised ASTM International standard for aviation turbine fuel approved in June, Brazil’s ANP last week removed the last regulatory hurdle for the use of our renewable jet fuel in Brazil.
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. by Brian J.
Those claiming that oil will continue to fall from here and remain low for evermore, however, are flying in the face of both history and common sense. The question we should be asking ourselves is not if oilprices will recover, but when they will. Right now they say that that is not on the cards, and why would they cut back?
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.) Klein-Marcuschamer, D., Dietzgen, R. Gresshoff, P.
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.
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 International Energy Agency (IEA).
In addition to technological advances, price developments play a key role in determining overall energy usage, Worldwatch notes. World crude oilprices more than tripled between 2004 and 2008—the fastest rise since the oil crisis of the late 1970s—contributing to the sharp decline in energy intensity during that period.
According to the IEO2021 Reference case, which projects future energy trends based on current laws and regulations, renewable energy consumption has the strongest growth among energy sources through 2050. Oil and natural gas production will continue to grow, mainly to support increasing energy consumption in developing Asian economies.
With the successful scale-up of this technology, it is believed that Gevo’s HEDFs could be produced at a lower cost than the petroleum-based equivalent, even at current oilprices. Gevo has also developed technology to produce hydrocarbon products from renewable alcohols.
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. Among their findings were: RFS2 is satisfied at extreme oilprices (at least $215/barrel). Barter, Dawn K.
Red Rock Biofuels LLC will produce approximately three million gallons of low-carbon, renewable jet fuel per year for FedEx Express, a subsidiary of FedEx Corporation. and will convert approximately 140,000 dry tons of woody biomass into 15 million gallons per year of renewable jet, diesel and naphtha fuels. Earlier post.).
Energy demand and oilprices have been in a nosedive, and that could be a good thing for renewable energy. Two tech companies with range-anxiety-soothing ideas have been nudged to the next level by investors. And why did sales sink so dramatically for the two top-selling electrified vehicles in the U.S. This and more.
Renewable energy and nuclear power are the world’s fastest-growing energy sources, each increasing 2.5% With prices expected to increase in the long term, however, the world oilprice in real 2011 dollars reaches $106 per barrel in 2020 and $163 per barrel in 2040, according to IEO2013.
Global investment in renewable power and fuels (excluding large hydro-electric projects) was $270.2 Global investment in renewable power and fuels (excluding large hydro-electric projects) was $270.2 A key feature of the 2014 result was the rapid expansion of renewables into new markets in developing countries. billion.
Fleets across the country are trying to reduce their vulnerability to spikes in oilprices and are finding themselves increasingly subject to greenhouse gas emissions limitations at the federal, state and local levels. Click to enlarge.
The cost of generating power from renewable energy sources has reached parity or dropped below the cost of fossil fuels for many technologies in many parts of the world, according to a new report released by the International Renewable Energy Agency (IRENA). Size of the diameter of the circle represents the size of the project.
In their analysis, the authors examined the effect of 5 factors on EDV deployment: crude oil and natural gas prices; a federal CO 2 policy; a federal renewable portfolio standard (RPS); and EDV battery cost. No EDV deployment occurs with high battery costs, low oilprices, and no CO 2 policy.
and Genencor, a division of Danisco A/S, have established a research collaboration to develop an integrated fermentation, recovery and purification system for producing BioIsoprene from renewable raw materials for use in tires. BioIsoprene product will serve as a renewable and cost-competitive alternative to isoprene.
The MTOMR is the last in a series of medium-term forecasts that the IEA devotes to each of the four main primary energy sources: oil, gas, coal and renewable energy. But it also highlights elevated supply and demand risks.
Low-carbon energy sources (renewables and nuclear) meet around 40% of the growth in primary energy demand. Nearly half of the net increase in electricity generation comes from renewables. However, this does not imply a new era of oil abundance, the report cautions. China Forecasts India Oil Other Asia' —WEO-2013.
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. Oil, excluding bio-fuels, will grow relatively slowly at 0.6% The fuel mix changes over time, reflecting long asset lifetimes.
Investing in alternative fuels is not only good for the environment, it’s a smart move for our company as biofuels have the potential to hedge against future oilprice volatility and carbon regulations. —United Executive Vice President and General Counsel Brett Hart.
energy sector will spur a flurry of M&A and investment activity in 2011 as renewable energy. renewable energies; however, it will not include economic incentives for achieving a reduction in carbon emissions. Rising OilPrices Lead to Investments in Natural Gas. enter the renewable energy sector through acquisition.
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.
The five different fuel groups were those derived: from conventional petroleum; from unconventional petroleum; synthetically from natural gas, coal, or combinations of coal and biomass via the FT process; renewableoils; and alcohols. million bpd. Alcohols, biodiesel and biokerosene offer no benefit for aviation.
CSIRO notes that the idea of using a coal engine to generate electricity is not new; it was successfully investigated in the US some 20 years ago for use in diesel locomotives before development was terminated by persistently low oilprices.
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 low levels in discoveries come as a result of a pullback during the past 10 years in the wildcat drilling that targets conventional oil and gas plays—most drastically after oilprices collapsed in 2014. This renewed competitiveness could rekindle interest in conventional exploration where larger discoveries are made.
Hydroprocessing produces renewable diesel, and can produce 50-70% jet fuel with an additional cracking step. The remaining product would be mostly renewable diesel, with. The example used is Honeywell/UOP’s Renewable Jet Process. renewable diesel. fractions as propane and naphtha. Standard 2 (RFS2) Program.
In the absence of major technological innovations or policy changes, the United States is unlikely to meet cellulosic biofuel mandates under the current Renewable Fuel Standard (RFS2) by 2022, according to a new report from the National Research Council. Economic effects.
entered into a feasibility agreement with NASA to evaluate the potential use of castor oil as a viable and sustainable feedstock for production of biojet fuel—also known as Bio Synthesized Paraffinic Kerosene (Bio-SPK) and Hydroprocessed Renewable Jet (HRJ). In April 2009 Evogene Inc. Earlier post.). Earlier post.).
an industry consultant, oil and gas companies have laid off more than 250,000 workers around the world, a tally that will rise if oilprices remain in the dumps. “I Still, upstream E&P companies are also being substantially squeezed by another plunge in oilprices. According to Graves & Co.,
Increased oilprices or current production incentives make Vertimass fuel cost competitive, and CADO-derived hydrocarbon blendstocks pass on greenhouse gas emission reductions of the ethanol feedstock. GJ today with the potential to drop to $1.44/GJ GJ in the near future. —Pahola Thathiana Benavides.
TGC produces hydrogen along with synthetic natural gas and delivers it in its utility gas stream, with more than 5% hydrogen content today; it has the capability of producing more H 2 through its renewable biogas initiative. Fuel prices are among the highest in the US. Hawaii imports most of its energy. That’s a reprieve, not a pardon.
While OPEC mulls over further steps to once again support falling oilprices, tech startups are quietly ushering in a new era in oil and gas: the era of the digital oil field. The Internet of Things is entering oil and gas, and so are analytics and artificial intelligence. by Irina Slav for Oilprice.com.
Removing fossil fuel subsidies would have only a small effect on CO 2 emissions and renewable energy use, according to a new study led by the International Institute for Applied Systems Analysis (IIASA) and published in the journal Nature. In addition, subsidy removal would not boost renewable energy use significantly, the team found.
World oilprices have fallen sharply from their July 2008 high mark. As the world’s economies recover, higher world oilprices are assumed to return and to persist through 2030. In the IEO2009 reference case, world oilprices rise to $110 per barrel in 2015 (in real 2007 dollars) and $130 per barrel in 2030.
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