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Rhodium Group estimates US GHG emissions rose 1.3% in 2022

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Despite efforts to continue stimulating the US economy in the wake of the pandemic, high inflation put a damper on economic growth, which was exacerbated by a spike in oil prices as a result of Russia’s invasion of Ukraine. below 2005 levels. Consequently, the US economy grew 1.9% in 2022, down from a 5.7% GDP increase in 2021.

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API: total US petroleum demand topped 20.8 mb/d in July, highest since 2005; on-road fuel demand down

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year-over-year increase and the highest demand for the month since 2005, according to the latest Monthly Statistical Report released by the American Petroleum Institute (API). compared with July 2018—and the highest demand for the month of July since 2005. However, WTI prices remained down 19.2% ($13.62

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Purdue study projects that under likely adoption rates, use of biojet fuel alone will not meet aviation emissions reduction targets for 2050; the need to go above 50% blends

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Uncertainty range of the aviation GHG emissions under the High Oil price scenario (the most optimistic for biojet adoption), given in a box plot depicting the minimum, quartile, and maximum values. With biojet options, under the high oil price scenario (the most optimistic for biojet adoption), the median (i.e.,

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

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Gasoline prices are forecast to go even lower in 2015. Gasoline prices are falling because of lower crude oil prices, which account for about two-thirds of the price US drivers pay for a gallon of gasoline. miles per gallon (mpg) for model-year (MY) 2005 cars to almost 28 mpg for MY2014, an increase of about 21%.

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

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Petroleum use in North America, which is dominated by consumption in the United States, has declined since 2005. In 2011 and 2012, higher oil prices and increased fuel efficiency of light-duty vehicles contributed to reduced US consumption. Increased consumption in 2010 reflected improving economic conditions.

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EIA AEO2015 projects elimination of net US energy imports in 2020-2030 timeframe; transportation energy consumption drops

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AEO2015 presents updated projections for US energy markets through 2040 based on six cases (Reference, Low and High Economic Growth, Low and High Oil Price, and High Oil and Gas Resource) that reflect updated scenarios for future crude oil prices. trillion cubic feet (Tcf) in the Low Oil Price case to 13.1

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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.

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