article thumbnail

IEA: Global oil discoveries and new projects fell to historic lows in 2016 while US shale surged; “two-speed” market

Green Car Congress

Global oil discoveries fell to a record low in 2016 as companies continued to cut spending and conventional oil projects sanctioned were at the lowest level in more than 70 years, according to the International Energy Agency, which warned that both trends could continue this year. Oil discoveries declined to 2.4

Oil 150
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

Between 2010 to 2030 the contribution to energy growth of renewables (solar, wind, geothermal and biofuels) is seen to increase from 5% to 18%. 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. Coal will increase by 1.2%

Energy 210
article thumbnail

ExxonMobil: global GDP up ~140% by 2040, but energy demand ~35% due to efficiency; LDV energy demand to rise only slightly despite doubling parc

Green Car Congress

Even as demand increases, the world will continue to become more efficient in its energy use, according to the 2015 Outlook for Energy: A View to 2040. Wind, solar and biofuels are expected to be the fastest-growing energy sources, increasing about 6% a year on average through 2040, when they will be approaching 4% of global energy demand.

Energy 252
article thumbnail

US EIA Projects World Energy Use to Grow 44% Between 2006 and 2030, CO2 Emissions Up by 39%

Green Car Congress

billion metric tons in 2015 and 40.4 Total world energy use rises from 472 quadrillion British thermal units (Btu) in 2006 to 552 quadrillion Btu in 2015 and then to 678 quadrillion Btu in 2030. World oil prices have fallen sharply from their July 2008 high mark. World carbon dioxide emissions are projected to rise from 29.0

2006 150
article thumbnail

VW introducing 1.8L EA888 Gen 3 engine in 2014 Jetta, Passat and Beetle; driving impressions

Green Car Congress

to conform to future emissions standards, particularly the stringent EU6 standard which will be mandatory in Europe in 2015. Other features include a new, lighter turbocharger/cylinder head assembly; the use of lightweight polymers for the oil pan, and use of aluminum for various screws and fasteners. MQB and MLB. Intake and injection.

2014 331
article thumbnail

Opinion: Political Climate Shifting Against The Oil And Gas Industry

Green Car Congress

Oil and gas companies have had a tough time over the past year trying to weather the storm of falling oil prices. But the political and financial winds are moving in the wrong direction for the industry, raising more “above ground” problems at a time that they can ill-afford it. by Nick Cunningham of Oilprice.com.

Oil 150