Remove 2005 Remove 2015 Remove Oil Remove Oil Prices
article thumbnail

EIA: US household gasoline expenditures in 2015 tracking to be lowest in 11 years

Green Car Congress

The average US household will spend about $550 less on gasoline in 2015 compared with 2014, as annual motor fuel expenditures are on track to fall to their lowest level in 11 years, according to projections by the US Energy Information Administration (EIA). The price for US regular gasoline has fallen 11 weeks in a row to an average $2.55

2015 210
article thumbnail

When Will Russia Run Out Of Oil?

Green Car Congress

On a global level, 2015 and 2016 marked the lowest level of new conventional oil discoveries since 1952. billion barrels of conventional oil were discovered, roughly 45 days of global crude consumption or 0.2 Globally, exploratory drilling fell by almost 20 percent in 2015 and fell even further in 2016. In 2016, only 3.7

Russia 150
article thumbnail

BP approves revamped $9B Mad Dog Phase 2 project in the deepwater Gulf of Mexico; down from original $20B cost

Green Car Congress

BP has sanctioned the $9-billion Mad Dog Phase 2 project in the United States, despite the current low oil price environment. Oil production is expected to begin in late 2021. Oil production is expected to begin in late 2021. In 2013, BP (operator, with 60.5% Earlier post.).

Mexico 150
article thumbnail

EIA AEO2015 projects elimination of net US energy imports in 2020-2030 timeframe; transportation energy consumption drops

Green Car Congress

The Annual Energy Outlook 2015 (AEO2015) released today by the US Energy Information Administration (EIA) projects that US energy imports and exports will come into balance—a first since the 1950s—because of continued oil and natural gas production growth and slow growth in energy demand. With greater U.S. With greater U.S.

2020 150
article thumbnail

Pike forecasts Asia-Pacific to be largest PEV market, with more than 1.2M units by 2015; China to represent 53% of total sales

Green Car Congress

million by 2015 at a compound annual growth rate (CAGR) of 28% (2010-2015), according to the report. China alone will experience a CAGR of 76% to reach 554,114 unit sales of all electrified vehicles by 2015, and will represent 53% of total regional sales. billion in 2015. By 2015, Bae expects that a total of 2.6

Asia 236
article thumbnail

EIA Energy Outlook 2013 reference case sees drop in fossil fuel consumption as use of petroleum-based liquid fuels falls; projects 20% higher sales of hybrids and PHEVs than AEO2012

Green Car Congress

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 oil prices and. Overall findings. Biomass and biofuels growth is slower.

Fuel 225
article thumbnail

BP Energy Outlook 2030 sees emerging economies leading energy growth to 2030; global CO2 emissions from energy well above IEA 450 scenario

Green Car Congress

Natural gas is projected to be the fastest growing fossil fuel, and coal and oil are likely to lose market share as all fossil fuels experience lower growth rates. OECD oil demand peaked in 2005 and in 2030 is projected to be roughly back at its level in 1990. Oil, excluding bio-fuels, will grow relatively slowly at 0.6%

Energy 210