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

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In 2009, Asia surpassed North America as the world’s largest petroleum-consuming region as consumption rebounded from its 2008 decline. Between 2008 and 2012, Asia’s consumption increased by 4.4 Declines in petroleum consumption in the United States in 2008 and 2009 occurred during the economic downturn. Source: EIA.

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EIA projects world energy use to increase 53% by 2035; oil sands/bitumen and biofuels account for 70% of the increase in unconventional liquid fuels

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Worldwide energy consumption will grow by 53% between 2008 and 2035 with much of the increase driven by strong economic growth in the developing nations, especially China and India, according to the reference case in the newly released International Energy Outlook 2011 (IEO2011) from the US Energy Information Administration (EIA).

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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. Energy consumption for light-duty vehicles grows from 16.7 Source: EIA.

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EIA: US refineries running at record levels; gasoline demand; exports up

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Lower crude oil prices and strong demand for petroleum products, primarily gasoline, both in the United States and globally, have led to favorable margins that encourage refinery investment and high refinery runs. The record high gross inputs reflect both higher refinery capacity and higher utilization rates.

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Deutsche Bank Forecast sees slower transportation electrification and greater gasoline demand near-term; increased confidence in the pace and breadth of long-term shift to efficient transportation systems

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” Their analysis is in the context of the “ surprising [oil] demand strength of 2010 “; 2010 saw absolute incremental demand at around 2.2mb/d of growth—the second highest in 30 years, despite oil prices in the $90/bbl region. In the US hybrids fell from about 3% of total sales in 2008-09 to 2.2%

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State Department issues Draft Supplemental Environmental Impact Statement on Keystone XL Pipeline: climate change impacts

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The pipeline would primarily transport crude oil from the WCSB and Bakken regions. The majority of the WCSB oil is considered a heavy crude oil, while Bakken crude is considered a light crude oil. If diluents are not available, producers use synthetic crude oil as the diluent to create a product called synbit.

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State Department releases Keystone XL Final Supplemental Environmental Impact Statement

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The document is posted on State’s Keystone project site , which it has run since the beginning of the Keystone XL Presidential permit process in 2008. Market analysis: cross-border pipeline constraints have a limited impact on crude flows and prices. Domestic production of crude oil has increased significantly, from approximately 5.5

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