article thumbnail

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

Green Car Congress

The collapse in world oil prices in the second half of 2014 will have only a moderate impact on the fast-developing low-carbon transition in the world electricity system, according to research firm Bloomberg New Energy Finance. However, the slump in the Brent crude price per barrel from $112.36 on 30 June to $61.60

article thumbnail

Rhodium Group estimates US GHG emissions rose 1.3% in 2022

Green Car Congress

Despite efforts to continue stimulating the US economy in the wake of the pandemic, high inflation put a damper on economic growth, which was exacerbated by a spike in oil prices as a result of Russia’s invasion of Ukraine. Consequently, the US economy grew 1.9% in 2022, down from a 5.7% GDP increase in 2021.

Emissions 273
article thumbnail

GE and Sargas AS partner on gas-fired plants with carbon capture for enhanced oil recovery

Green Car Congress

GE has concluded a commercial alliance agreement with Norway-based Sargas AS to provide a gas turbine for one of the world’s first gas-fired plants with integrated carbon capture for enhanced oil recovery (EOR). GE’s LMS100 turbine is a combination of proven frame and aero-derivative gas turbine technology.

Oil 220
article thumbnail

bp Statistical Review shows 4.5% drop in primary energy consumption in 2020; mainly driven by oil

Green Car Congress

Both primary energy consumption and carbon emissions from energy use fell at their fastest rate seen since the Second World War, while renewable energy continued its trajectory of strong growth, with wind and solar power recording their largest ever annual increase. The oil price (Dated Brent) averaged $41.84/bbl The US (-2.3

2020 397
article thumbnail

EIA projects increases in global energy consumption and emissions through 2050

Green Car Congress

If current policy and technology trends continue, global energy consumption and energy-related carbon dioxide emissions will increase through 2050 as a result of population and economic growth. Oil and natural gas production will continue to grow, mainly to support increasing energy consumption in developing Asian economies.

Global 259
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

2019 NTEA Fleet Purchasing Outlook reveals continued strong demand for biodiesel in diesel trucks

Green Car Congress

NTEA’s additional anecdotal evidence suggests that though alternative fuel interest may ebb and flow along with fluctuating oil prices, the trend will likely turn upward in the long run. It is highly likely that clean energy solutions will remain relevant due to oil price instability.

Purchase 207