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IEA forecasts global oil demand to reach 101.6 mb/d in 2023; non-OECD countries lead expansion

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While diesel cracks eased month-on-month in May, both jet fuel and gasoline cracks surged as demand picked up seasonally. Following nearly two years of declines, observed global oil inventories increased by 77 mb in April. Higher oil prices and a weaker economic outlook continue to temper IEA’s oil demand growth expectations.

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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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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.

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US Energy-Related Carbon Dioxide Emissions Declined by 2.8% in 2008; Transportation-Related Emissions Down 5.2%

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Motor gasoline accounts for 58.7% Factors that influenced the overall emissions decrease included record-high oil prices and a decline in economic activity in the second half of the year. in 2008, continuing a trend of falling industrial sector emissions since 2004. —an average of 1.1% Energy demand declined by 2.2%

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