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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
Two diametrically opposed views dominate the current debate about where the oilprice is heading. On the other hand, however, there is the view that the price of oil is set to explode, primarily due to underinvestment in the upkeep of brownfields , development of greenfields , and exploration for new resources.
Oil is a strategic commodity second to none—it underlies the global economy and even the American way of life. Of course, other countries benefit from this fact, with about $900 million flowing out of the US to buy foreign oil every day, and about 40% of that going to OPEC. [
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.
Under the Reference case, domestic crude oil production is expected to grow by more than 20% over the coming decade; already, domestic crude oil production increased from 5.1 Over the next 10 years, continued development of tight oil (e.g., Over the next 10 years, continued development of tight oil (e.g.,
In a June speech at Georgetown University, President Barack Obama said that the controversial Keystone XL pipeline would only be built if the project “ does not significantly exacerbate the problem of carbon pollution.” ( Earlier post.). This indicates that oil sands can grow using rail; it is already happening. Earlier post.).
Electrification will also reduce oil dependence, providing foreign policy benefits and the potential to reduce real oilprices and oilprice volatility. pollution, noise) to allow less energy-intensive building and community design. Vehicle technologies. —Deutch and Moniz. Policy options.
The airline industry continues to experience strong growth and, while current low oilprices may provide a short-lived respite, the impact of carbon pollution is undeniable. We meet the most rigorous performance requirements in the aviation industry and are now commercializing our product in Brazil as well as around the world.
the potential implications of electric vehicles for electricity consumption, management of electricity demand, greenhouse gas emissions and air pollutant emissions. The analysis is based on central forecasts of oilprice, electricity. However, as EV and PHEV prices gradually reach. This is primarily due to.
AEO2013 offers a number of other key findings, including: Crude oil production , especially from tight oil plays, rises sharply over the next decade. Domestic oil production will rise to 7.5 Biofuels grow at a slower rate due to lower crude oilprices and. Overall findings. Biomass and biofuels growth is slower.
World production of fossil fuels—oil, coal, and natural gas—increased 2.9% million tons of oil equivalent (Mtoe) per day, according to a Worldwatch Institute analysis. Energy prices reflected this shift: oil peaked at $144 per barrel in July, then fell to $34 per barrel in December. Oil production reached 10.7
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. Emissions Reductions: AVTA’s all-electric fleet will provide elimination of CO 2 , NO x , PM 10 and PM 2.5
Consumers will also enjoy overall savings estimated at up to €800 million (US$897 million) in five years’ time, based on the historically low oilprice over the past few months.
Heavy fuel oil (HFO) is the predominant marine fuel. While the IMO is taking positive action to address the environmental impacts of air pollution from ships, the rapid change creates significant disruption for both the refining and shipping industries. IHS Markit expects an unprecedented light-heavy price spread during 2020 to 2021.
In addition, Barrow said, progress has also been made by the IMO in 2018 on a number of other issues relating to the new regulations, including transitional plans, verification issues, control mechanisms, and the role of port states, as well as on the reporting of fuel-oil non-availability. —Kurt Barrow.
DNV and GL merged in September 2013 to form DNV GL—the world’s largest ship and offshore classification society, the leading technical advisor to the global oil and gas industry, and a leading expert for the energy value chain including renewables and energy efficiency. Ship electrification and renewables.
The awards recognize pioneering chemical technologies developed by leading researchers and industrial innovators who are making significant contributions to pollution prevention in the United States. Genomatica expects Bio-BDO to be competitive at oilprices of $45 per barrel or at natural gas prices of $3.50
The move towards a plug-in electric vehicle market also generates large savings in greenhouse gas and air pollution emissions. The economic model considers the costs and benefits to infrastructure providers, consumers (in terms of vehicle purchase and operating costs) and externalities such as greenhouse gas emissions and air pollution.
The best cost estimates of cellulosic biofuel are not economical compared with fossil fuels when crude oil’s price is $111 per barrel. However, air-quality modeling suggests that production and use of ethanol to displace gasoline is likely to increase air pollutants such as particulate matter, ozone, and sulfur oxides.
The report also noted that the storage and use of certain ethanol blends may pose other environmental problems, such as leaks in underground storage tanks and increased emissions of certain air pollutants. Federal tax credits, the RFS, and the ethanol tariff have primarily supported conventional corn starch ethanol. specifies this year.
By preparing now for a future of scarce world oil supplies, we can build an economy with a more resilient foundation for jobs and prosperity. the buffer between supply and demand is much too small to absorb shutdowns of even a small part of the world's oil demand." A flex fuel plug-in car could be nearly oil free.
From The Seattle Times : Now oil companies are choosing to pass on the compliance fees, the experts say. Those costs add up to about 50 cents per gallon for the consumer, according to the OilPrice Information Service, a Dow Jones company that collects fuel-pricing information for many clients, including AAA.
There is no pollution to speak of with these plants. The rest of Hawaii’s electricity is generated by burning oil. Yes, tankers of dirty, expensive oil are brought in and boatloads of money are shipped back to the oil companies. This 30 MW represents around 20% of the island’s demand for power.
The latter powertrain technologies also offer the advantage of zero pollutant emissions. The reference case predicts, within two different scenarios for oilprice development and battery technology progress, an expected market development for each technology under the current regulatory framework.
Perhaps he knows how good it feels to drive a quiet, powerful car that doesn’t pollute. “A lot of Americans really want to stop using imported oil,&# he says. Pricing isn’t set. Oil vs. electrons. But Ghosn thinks rising oilprices will tilt the economics in favor of electrons.
Americans still love their air-polluting and smog-producing gas guzzlers. Most people do know and feel that if we drive electric cars we could reduce the consumption of oil and could reduce pollution. It is seen only one third is taking step to buy at any point of time. Some are still not yet sure to make a plunge in purchase.
Fossil fuel subsidies amount to little more than an incentive to pollute and as such are “public enemy number one to sustainable development” Fatih Birol, Chief Economist at the International Energy Agency said at the European Wind Energy Association’s (EWEA) recent annual conference.
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.
from its reliance on imported oil. Fuel Cells Fuel cells create electricity in a chemical process thatcombines hydrogen and oxygen, emitting only water vapor.California, which requires big automakers to sell some non-polluting vehicles, rates Clarity a “zero-emission vehicle.” Oilprices are going to go up.
By 2027, electric cars and vans would be cheaper to manufacture than traditional, fossil-fuel-powered vehicles, according to analysis, and stricter pollution controls could place them in pole position to overtake all new car sales by the middle of the decade. Rays of Hope. Battery Swapping.
Biofuels are generally accepted to improve net carbon output, even when local air pollution from the production of biodiesel is taken into account. They offer the prospect of increased market competition and oilprice moderation and can help reduce the dependency on fossil fuels. So do biofuels have a role to play?
As oilprices fall, "the push for new energy technologies isbeing shoved aside by the nations other economic woes," Grove said. Add our RSS Feed to your favorite feed reader. Unfortunately, battery production is currently dominated by overseas consumer electronics manufacturers, not U.S. automakers.
For example, adding a biofuel subsidy with a consumption mandate fails to increase ethanol consumption but instead subsidizes oil consumption. Other findings from the study include: Ethanol policy can have a substantial impact on corn prices. However, production costs of US corn-ethanol are very high.
The report, “ Renewable Power Generation Costs in 2014 ”, concludes that biomass, hydropower, geothermal and onshore wind are all competitive with or cheaper than coal, oil and gas-fired power stations, even without financial support and despite falling oilprices. —Adnan Z. Amin, Director-General of IRENA.
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., Automakers could ramp up PEV production if consumer demand proves to be larger than expected. Long-Term R&D Commitments.
Oilprices peaked once again at over $75 a barrel. The war between Israel and Hizbollah has brought massive petroleum spills to Beirut’s beaches as a result of the bombing of an oil-burning electricity generation plant. Certainly, events in the world have conspired to drive attention to the film and the Tesla.
Millions of EVs and PHEVs would expand the sale of electricity as an alternative to oil. No more Big OIL - think of the extra money stimulating the economy! Let the Interstate trucks and farm equipment stay on oil until the residential is done and slowly begin to move them as their fleets age out. Then we are done! Email Neal.
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