article thumbnail

White House: OPEC+ oil production increases “simply not enough”

Green Car Congress

On Wednesday, US National Security Advisor Jake Sullivan issued a statement calling on OPEC+ to increase oil production: While OPEC+ recently agreed to production increases, these increases will not fully offset previous production cuts that OPEC+ imposed during the pandemic until well into 2022. Senate voted to approve a massive $1.2

Oil 243
article thumbnail

ExxonMobil seeking to boost growth, continue work on lower-emissions technologies including biofuels and carbon capture

Green Car Congress

ExxonMobil expects to increase annual earnings potential by more than 140% and double potential annual cash flow from operations by 2025 from 2017 adjusted earnings, assuming a 2017 oil price of $60 per barrel adjusted for inflation and based on 2017 margins.

article thumbnail

IEA World Energy Outlook 2013 sees CO2 emissions rising by 20% to 2035; oil use on upward trend

Green Car Congress

Low-carbon energy sources (renewables and nuclear) meet around 40% of the growth in primary energy demand. Nearly half of the net increase in electricity generation comes from renewables. However, this does not imply a new era of oil abundance, the report cautions. China Forecasts India Oil Other Asia' —WEO-2013.

Oil 275
article thumbnail

Roland Berger study outlines integrated vehicle and fuels roadmap for further abating transport GHG emissions 2030+ at lowest societal cost

Green Car Congress

A new study by consultancy Roland Berger defines an integrated roadmap for European road transport decarbonization to 2030 and beyond; the current regulatory framework for vehicle emissions, carbon intensity of fuels and use of renewable fuels covers only up to 2020/2021. BEVs fueled with low carbon, renewable electricity (for PC).

article thumbnail

RAND study concludes use of alternative fuels by US military would convey no direct military benefit; recommends energy efficiency instead

Green Car Congress

If the US military increases its use of alternative jet and naval fuels that can be produced from coal or various renewable resources, including seed oils, waste oils and algae, there will be no direct benefit to the nation’s armed forces, according to a new RAND Corporation study.

article thumbnail

Sandia Labs/GM Biofuels Systems Study Concludes Large-Scale Production of Advanced Biofuels is Achievable and Sustainable

Green Car Congress

Cellulosic biofuels can compete with oil at $90/bbl without subsidy assuming: average conversion yield of 91 gallons per dry ton of biomass; average conversion plant capital expenditure of $3.60 Sensitivity analyses varying these assumptions individually gave potential cost-competitiveness with oil priced at $70/bbl to $120/bbl.

GM 170
article thumbnail

Michigan Energy and Advanced Automotive Research Lined Up for $99.5M in Funding from FY2010 Defense Appropriations Bill

Green Car Congress

Lithium-ion batteries could be considerably lighter, much more capable, and more affordable than currently available battery systems. Interest in biofuels is driven by high oil prices, environmental concerns, as well as national security concerns. 2 million for development of flexible photovoltaics.

Michigan 186