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Biden authorizes release of more than 180M barrels of oil from Strategic Petroleum Reserve; 1M bpd for 6 months

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In an effort to address the rapidly increasing cost of gasoline, President Biden authorized the release of 1 million barrels of oil per day for the next six months—more than 180 million barrels—from the Strategic Petroleum Reserve (SPR). million barrels of sweet and 200,000 barrels of sour crude oil. Background.

Oil 418
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Report: PetroChina to Boost Investment in Oil Gas in Indonesia by 30% This Year

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The Jakarta Post reported that Chinese oil and gas firm PetroChina will increase its investment in oil and gas exploration and development in Indonesia by 30% this year to boost oil lifting and counteract declining production.

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Study Finds that US Subsidies for Fossil Fuels Are Almost 2.5x Those for Renewables

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US subsidies for fuels and renewable energy, 2002-2008. The study, “Estimating US Government Subsidies to Energy Sources: 2002-2008”, found that fossil fuels benefited from approximately $72 billion over the seven-year period, while subsidies for renewable fuels totaled $29 billion. Nuclear was not included in the analysis.

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Perspective: Drive Star Conversion Program Could Cut US Oil Use in Half by 2020

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In a pre-response to that speech, having successfully advocated for plug-in hybrids like the forthcoming Chevy Volt, we propose that the President follow that speech up with a “realistic and conservative” roadmap to halve our oil use in 10 years. Oil is holding us all hostage, economically and physically. Finally, it’s time to begin.

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EPA researchers suggest US electricity consumers should be willing to pay 2-4x for emission-free alternatives to fossil fuel electricity due to health impacts

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2002), respectively. In a paper in press in the journal Environment International , Ben Machol and Sarah Rizk quantify the economic value of health impacts associated with PM 2.5 For coal, oil, and natural gas, respectively, associated economic values of health impacts are $0.19–$0.45/kWh, The high (?) 2006) and Pope et al.

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

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Since 2002, the average annual increase was almost 4%. 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. Source: PBL. Click to enlarge.

2008 170
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Shell develops new concept synthetic lubricant for engines; up to 6.5% fuel economy benefit on urban cycle

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25 city car as the test bed, Shell engineers formulated an ultra low viscosity 0W-10 motor oil. The testing undertaken compares this concept lubricant to a 10W-30 oil which is a widely used viscosity in European markets. In 2002, Shell acquired Pennzoil-Quaker State Company to become the No. Using GMD’s new T.25