article thumbnail

The Next Oil Price Spike May Cripple The Industry

Green Car Congress

Two diametrically opposed views dominate the current debate about where the oil price is heading. But, WoodMackenzie says, many of these still-to-be-launched projects are uneconomical at oil prices in the $50s per barrel, meaning that they should not be expected to get the all-clear anytime soon. Since (non-U.S.

article thumbnail

EIA: US summer gasoline demand expected to be at 11-year low, prices at record high

Green Car Congress

High prices at the pump—mostly a result of global crude oil prices—and the use of more efficient vehicles both encourage reduced gasoline consumption. million barrels per day (bbl/d) this summer driving season, which runs from April through September, the lowest since 2001 and about 6.4%

Gasoline 247
article thumbnail

The Real Reason for USA based Economic Recessions.

DIY Electric Car

There have been 5 recession since then until now and I wanted to see if Oil had anything to do with them, because deep in my heart, I knew the most recent recession was directly caused by the oil price spikes that started in 2007 and peaked in 2008. For more information about the concept of Peak Oil please visit [link].

USA 180
article thumbnail

Worldwatch Institute report finds global energy intensity increased in 2010 for second year in a row

Green Car Congress

In addition to technological advances, price developments play a key role in determining overall energy usage, Worldwatch notes. World crude oil prices more than tripled between 2004 and 2008—the fastest rise since the oil crisis of the late 1970s—contributing to the sharp decline in energy intensity during that period.

2010 246
article thumbnail

Norweign Drivers switch to Electric Cars

EV Report

Buyers of EV became exempted from paying VAT in 2001. But recently due to outbreak of COVID-19, sales of electric vehicles have been affected with the consumer markets being shaken and oil prices being plunged to high. In Norway, most cars are imported. But this was removed in 1990 for electric vehicles.

article thumbnail

Annual Increase in Global CO2 Emissions Halved in 2008; Decrease in Fossil Oil Consumption, Increase in Renewables Share

Green Car Congress

In addition to high oil prices and the financial crisis, the increased use of new renewable energy sources, such as biofuels for road transport and wind energy for electricity generation, had a noticeable and mitigating impact on CO 2 emissions. Global CO 2 emissions from fuel use and cement production by region. Source: PBL.

2008 170
article thumbnail

Annual increases in CO2 slows down

Green Cars News

With oil prices surging in the summer of 2008, the annual increase in global emissions of carbon dioxide (CO2) from oil, coal, gas and cement production appear to have halved according to preliminary estimates by the Netherlands Environmental Assessment Agency. Who said no good has come from the global financial crisis?

CO2 39