article thumbnail

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

Green Car Congress

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). 2005 Hurricane Katrina Sale. (The 2005 Hurricane Katrina Sale.

Oil 418
article thumbnail

Production of crude oil as a percentage of proved reserves: Recent worldwide and US trends

Green Car Congress

In this analysis, I examined the relation between crude-oil production and crude-oil reserves in the world overall and in the United States alone. The variable of interest was the amount of crude oil produced as a percentage of proved reserves of crude oil. For the world, production of crude oil in 1980 represented 3.4%

Oil 342
article thumbnail

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

Green Car Congress

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. Total US petroleum demand averaged 20.8 This was a decrease of 0.9%

2005 207
article thumbnail

DOE: US net petroleum imports negative for 2020

Green Car Congress

This includes crude oil and petroleum products. Net imports peaked in 2005 at 12.5 Total petroleum products supplied is the sum of the products supplied for each petroleum product, crude oil, unfinished oils, and gasoline blending components. the United States exported more petroleum than it imported.

2020 389
article thumbnail

EPA proposes new rulemaking for sharp cuts in methane emissions from oil and gas industry

Green Car Congress

The US Environmental Protection Agency (EPA) is proposing comprehensive new regulations to reduce methane emissions from the oil and natural gas industry—including, for the first time, reductions from existing sources nationwide. Source: EPA. billion a year.

EPA 243
article thumbnail

Canada targets cutting GHGs 30% below 2005 levels by 2030; new regulations for oil and gas, power, petrochemicals

Green Car Congress

Canada Environment Minister Leona Aglukkaq announced that Canada plans to reduce its greenhouse gas (GHG) emissions by 30% below 2005 levels by 2030. The new regulations include: Regulations aligned with recently proposed actions in the United States to reduce GHG methane from the oil-and-gas sector. over the same time period.

2005 150
article thumbnail

Oil sands production accounted for 28.8% of total Canadian gas demand in 2016

Green Car Congress

Alberta’s oil sands operations accounted for 28.8% in 2005, according to a new report by Canada’s National Energy Board (NEB). From 2005 to 2016, natural gas purchased by oil sands projects more than tripled, from 0.73 Additionally, natural gas is used in oil sands mining to heat water to separate bitumen from sand.

Oil-Sands 150