article thumbnail

Bank of America: Oil Demand Growth to Hit Zero Within a Decade, EVs the Culprit

Green Car Congress

By 2030, oil demand could hit a peak and then enter decline, according to a new report. For the next decade or so, oil demand should continue to grow, although at a slower and slower rate. According to Bank of America Merrill Lynch, the annual increase in global oil consumption slows dramatically in the years ahead. “I

Oil 306
article thumbnail

Strong Dollar Could Cap Oil Prices

Green Car Congress

dollar poses an obstacle to further gains in oil prices. As Reuters points out , in dollar terms the price of Brent oil has climbed 9 percent this year, but in yuan terms oil is now nearly 14 percent more expensive. Argentina, Brazil, Turkey and South Africa have seen significant depreciations in their currencies this year.

article thumbnail

The War in Ukraine Disrupts Trade in Both Food and Fuel

Cars That Think

Russia ranks second in the extraction of both crude oil (behind the United States and ahead of Saudi Arabia) and natural gas (behind the United States and ahead of Iran), and it is the sixth-largest producer of coal (behind Australia and ahead of South Africa). Here are the basic facts.

Ukraine 73
article thumbnail

Timnit Gebru Is Building a Slow AI Movement

Cars That Think

Sometimes people talk about AI for climate change, but if you really do the analysis of climate change, isn’t a lot of AI being used to make the oil and gas industries more efficient? One of our research fellows, Raesetje Sefala , is based in South Africa and grew up in a township. Sefala] is going to write an article for.

Building 136
article thumbnail

Devil in the Details: World Leaders Scramble To Salvage and Shape Copenhagens UNFCCC Climate Summit

Green Car Congress

April, 2008 : In an article entitled Dangerous Assumptions ( earlier post ), Roger Pielke, Jr., In particular, Prentice seeks to shield Alberta’s emissions-intensive oil sands operations from the effects of emission reductions. Canada’s 2009 GHG emissions are 48.7% “It has implications for us.

Climate 236