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3 Oil Majors That Bet Big On Renewables

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Big Oil has frequently been chided for merely trying to burnish its green credentials, and so far, it has done little to convince us that it is truly moving forward to greenness. Let this sink in: In 2018, Big Oil spent less than 1% of its combined budget on green energy projects. by Alex Kimani for Oilprice.com. 2 Total SA.

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California ARB: GHG emissions fell below 1990 levels for first time in 2016; down 13% from 2004 peak; transportation emissions up 2%

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The California Air Resources Board (CARB) announced that greenhouse gas emissions in California in 2016 fell below 1990 levels for the first time since emissions peaked in 2004—a reduction roughly equivalent to taking 12 million cars off the road or saving 6 billion gallons of gasoline a year.

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Baker Institute expert: crude-oil production increase a risky strategy for Saudi Arabia

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A number of factors are pushing Saudi Arabia to raise its crude-oil production capacity, but the wide range of potential outcomes suggests that such an increase is a risky strategy for the kingdom and the global environment, according to a new article by an expert from Rice University’s Baker Institute for Public Policy. m b/d thresh- old.

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California 2017 GHG inventory shows 1.2% total drop from 2016; transportation sector emissions up 1%

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The California Air Resources Board’s latest state inventory of greenhouse gas emissions shows that California’s GHG emissions continue to decrease. Compared to 2016, California’s GDP grew 3.6% Changes in emissions by Scoping Plan sector between 2000 and 2017. while the carbon intensity of its economy declined by 4.5%.

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ExxonMobil predicts peak in light-duty vehicle liquid fuels ~2030, but ongoing role for oil in the mix

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However, oil will continue to play a leading role in the world’s energy mix, the report finds. In the forecast, global transportation-related energy demand grows close to 30% from 2016 to 2040. The share of the world’s electricity generated by coal is expected to fall to less than 30% in 2040 from approximately 40% in 2016.

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Global Carbon Budget 2022: Global fossil CO2 emissions expected to grow 1.0% in 2022

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Growth in oil use, particularly aviation, and coal use are behind most of the increase in 2022. —Glen Peters, a Research Director at the CICERO Center for International Climate Research. CO 2 emissions from natural gas use have grown a sustained 2.2% CO 2 emissions from oil use are expected to grow 2.2% [0.9%

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$10-Trillion Investment Needed To Avoid Massive Oil Price Spike Says OPEC

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OPEC says that $10 trillion worth of investment will need to flow into oil and gas through 2040 in order to meet the world’s energy needs. The OPEC published its World Oil Outlook 2015 (WOO) in late December, which struck a much more pessimistic note on the state of oil markets than in the past. mb/d for 2035 to 2040.