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EIA expects record global petroleum consumption in 2024, with lower crude oil prices

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The US Energy Information Administration (EIA) expects global consumption of liquid fuels such as gasoline, diesel, and jet fuel, to set new record highs in 2024. EIA also expects oil production in Canada, Brazil, and Norway collectively to grow 12% from 2022 to 2024, and also expects growth from new sources such as Guyana.

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BNEF report finds hydrogen promising decarbonization pathway, but carbon prices and emissions policies required

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The report’s findings suggest that renewable hydrogen could be produced for $0.8 This is equivalent to gas priced at $6-12/MMBtu, making it competitive with current natural gas prices in Brazil, China, India, Germany and Scandinavia on an energy-equivalent basis. Renewable energy has paved the way to carbon-free electricity.

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BNEF: Oil price plunge to have only moderate impact on low-carbon electricity development, but likely to slow EV growth

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The majority of this has gone into renewable electricity generating capacity, which does not compete directly with oil. In a number of oil-producing nations and many low-income developing countries, a significant proportion of electricity is produced by diesel generators and oil-burning power plants. The share is less than 1% now.

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Global CO2 emissions up 3% in 2011; per capita CO2 emissions in China reach EU levels

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Some of the findings of the report include: Global consumption of coal (responsible for about 40% total CO 2 emissions) grew in 2011 by 5%, whereas global consumption of natural gas and oil products increased by only 2% and 1%, respectively. Coal consumption in China increased by 9.7% of all energy.

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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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LDVs powered by fuels other than gasoline, such as diesel, electricity, or E85, or equipped with hybrid drive trains, such as plug-in hybrid or gasoline hybrid electric, increase modestly from 18% of new sales in 2012 to 22% in 2040. Natural gas overtakes coal as the largest fuel for US electricity generation.

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What is Electrification of Transportation?

Driivz

In Norway , which is the world leader in renewable energy use, 45% of electricity comes from hydropower, while Brazil in second place gets 32% of its total energy supply from biofuel and waste energy. Because of the size of the US, the country is second only to China in gigawatts generated by renewable energy sources.

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List of The Best 10 Alternative Fuels for Cars that Could Replace Gasoline

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Disadvantages of fossil fuels Fossil fuels are a non-renewable source of energy which depletes and are not produced as fast as the rate of depletion. Biodiesel is a renewable source of energy produced from veritable oil, animal fat, etc. Diesel engines can use biodiesel alone or blended with petroleum fuels. #2