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IHS Markit: global oil demand still growing in the short term despite increasing focus on EVs

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Short-term oil demand is still growing strong and will continue to do so through the end of 2020 despite the market’s increasing focus on electric vehicles and the forecasted future plateau in oil demand, according to new analysis from IHS Markit, a global business information provider. Source: IHS Markit 2018. —Spencer Welch.

Oil 276
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BP Statistical Review finds global oil share down for 12th year in a row, coal share up to highest level since 1969; renewables at 2%

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Oil remains the world’s leading fuel, but its 33.1% Oil demand grew by less than 1%—the slowest rate amongst fossil fuels—while gas grew by 2.2%, and coal was the only fossil fuel with above average annual consumption growth at 5.4% The fossil fuel mix continues to change with oil, the world’s leading fuel at 33.1%

Coal 261
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Perspective: US Needs to Transition to Hydrous Ethanol as the Primary Renewable Transportation Fuel

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The oil price shocks of the 1970s led the Brazilian government to address the strain high prices were placing on its fragile economy. Brazil, the largest and most populous country in South America, was importing 80% of its oil and 40% of its foreign exchange was used to pay for that imported oil.

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Study Finds Integrated Biorefinery Processes Could Be Highly Competitive With Petroleum Fuels on Efficiency and Costs, While Offering Substantial Reductions in Greenhouse Gas Emissions

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integrating biological and thermochemical processing to produce biofuels and/or power could offer similar, if not lower, efficiencies and costs and very large reductions in greenhouse gas emissions compared to petroleum-derived fuel, according to a comparative analysis of 14 mature technology biomass refining scenarios.

Emissions 170
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Lux: nearly $7B in private investment in emerging oil & gas E&P technologies over last decade

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Investment into emerging oil and gas E&P (exploration and production) technologies, which were nearly non-existent in 2003, at just $57 million, have attracted nearly $7 billion in private investment from 497 unique transactions, according to a new report from Lux Research, “ Investing in Next Generation Oil and Gas Technologies ”.

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KPMG study identifies 10 sustainability “megaforces” with accelerating impacts on business; imperative of sustainability changing the automotive business radically

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Deforestation: Wood products contributed $100 billion per year to the global economy from 2003 to 2007 and the value of non-wood forest products, mostly food, was estimated at about US$18.5 High oil prices continue to affect consumer behavior, and concerns about climate change and reliance on oil are likely to increasingly shape policy.