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Rhodium Group estimates US GHG emissions rose 1.3% in 2022

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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 oil prices as a result of Russia’s invasion of Ukraine. below 2005 levels. Consequently, the US economy grew 1.9% in 2022, down from a 5.7% GDP increase in 2021.

Emissions 273
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API: total US petroleum demand topped 20.8 mb/d in July, highest since 2005; on-road fuel demand down

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year-over-year increase and the highest demand for the month since 2005, according to the latest Monthly Statistical Report released by the American Petroleum Institute (API). compared with July 2018—and the highest demand for the month of July since 2005. compared with July 2018, even as gasoline prices were 3.6%

2005 207
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Purdue study projects that under likely adoption rates, use of biojet fuel alone will not meet aviation emissions reduction targets for 2050; the need to go above 50% blends

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Uncertainty range of the aviation GHG emissions under the High Oil price scenario (the most optimistic for biojet adoption), given in a box plot depicting the minimum, quartile, and maximum values. They excluded soybean out of concern to the disruption on food production and effects of land-use change. Click to enlarge.

Emissions 225
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EIA: light duty vehicle energy consumption to drop 25% by 2040; increased oil production, vehicle efficiency reduce US oil and liquid imports

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The differences from AEO2013 to AEO2014 result from different fuel prices, updated manufacturer product offerings, changing technology attributes, and an updated view of consumer perceptions of infrastructure availability for E85 vehicles. Tcf in 2040, as more demand is met by domestic production. quadrillion Btu in 2012 to 7.5

Oil 290
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EIA 2035 reference case projects drop in US imports of petroleum due to modest economic growth, increased efficiency, growing domestic oil production, and biofuels

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EIA’s AEO2012 projects a continued decline in US imports of liquid fuels due to increased production of gas liquids and biofuels and greater fuel efficiency. 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

Oil 210
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EIA: US household gasoline expenditures in 2015 tracking to be lowest in 11 years

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Gasoline prices are forecast to go even lower in 2015. Gasoline prices are falling because of lower crude oil prices, which account for about two-thirds of the price US drivers pay for a gallon of gasoline. miles per gallon (mpg) for model-year (MY) 2005 cars to almost 28 mpg for MY2014, an increase of about 21%.

2015 210
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BP approves revamped $9B Mad Dog Phase 2 project in the deepwater Gulf of Mexico; down from original $20B cost

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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. The current Mad Dog platform has the capacity to produce up to 80,000 gross barrels of oil and 60 million gross cubic feet of natural gas per day.

Mexico 150