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EIA: world petroleum use sets record high in 2012 despite declines in North America and Europe

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The world’s consumption of gasoline, diesel fuel, jet fuel, heating oil, and other petroleum products reached a record high of 88.9 In 2009, Asia surpassed North America as the world’s largest petroleum-consuming region as consumption rebounded from its 2008 decline. Year-on-year changes in petroleum consumption by region. Source: EIA.

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EIA: US household gasoline expenditures in 2015 tracking to be lowest in 11 years

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Should the forecast be realized, motor fuel expenditures (gasoline and motor oil) in 2015 would be below $2,000 for the first time since 2009, according to EIA’s December 2014 Short-Term Energy Outlook (STEO). The price for US regular gasoline has fallen 11 weeks in a row to an average $2.55 mpg in the same time frame.

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BP approves revamped $9B Mad Dog Phase 2 project in the deepwater Gulf of Mexico; down from original $20B cost

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BP has sanctioned the $9-billion Mad Dog Phase 2 project in the United States, despite the current low oil price environment. Today, the leaner $9-billion project, which also includes capacity for water injection, is projected to be profitable at or below current oil prices. Earlier post.).

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EIA Energy Outlook 2011 more than doubles estimates of US shale gas resources; higher production at lower prices

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The Annual Energy Outlook 2011 (AEO2011) Reference case released yesterday by the US Energy Information Administration (EIA) more than doubles the technically recoverable US shale gas resources assumed in AEO2010 and added new shale oil resources. quadrillion Btu in 2009 to 31.8 quadrillion Btu in 2009 to 18.4

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The Real Reason for USA based Economic Recessions.

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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. This increase in oil prices again pushed the economy into a recession.

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Refiners and Truckers Associations Challenge California LCFS in Federal Court

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These charges echo those in a complaint against the LCFS filed by two ethanol trade groups—the Renewable Fuels Association (RFA) and Growth Energy—in December 2009. The LCFS violates the Supremacy clause, according to the complaint, because it conflicts with the Energy Policy Act of 2005 (EPAct 2005), Pub. Earlier post.).

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NETL Report Concludes CTL Plus Carbon Capture Results in Fuel with 5-12% Less Lifecycle GHG Than Petroleum Diesel; Modest Biomass Additions Lower GHG Further

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Lifecycle GHG emissions of CTL/CBTL/BTL compared to 2005 petroleum diesel baseline. Background colors of the cells represent the crude oil price required for economic feasibility. 2009) Click to enlarge. 2009) Affordable, Low-Carbon Diesel Fuel from Domestic Coal and Biomass (DOE/NETL-2009/1349) Tarka et al.

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