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BNEF: Oil price plunge to have only moderate impact on low-carbon electricity development, but likely to slow EV growth

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The collapse in world oil prices in the second half of 2014 will have only a moderate impact on the fast-developing low-carbon transition in the world electricity system, according to research firm Bloomberg New Energy Finance. While diesel and oil-based power is still uneconomic at $60/barrel, the pressure to switch is reduced.

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IEA: global energy demand rose by 2.3% in 2018, fastest pace in the last decade; CO2 emissions up 1.7%

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Natural gas emerged as the fuel of choice, posting the biggest gains and accounting for 45% of the rise in energy consumption. Gas demand growth was especially strong in the United States and China. Solar and wind generation grew at double-digit pace, with solar alone increasing by 31%. Energy demand worldwide grew by 2.3%

2018 207
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ExxonMobil projects 25% energy demand increase between 2014-2040, 50% decline in carbon intensity; hybrids to be 40% of new car sales

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Global energy demand will increase 25% between 2014 and 2040, driven by population growth and economic expansion, ExxonMobil forecasts in the 2016 edition of its annual The Outlook for Energy. The company forecasts modest gains for plug-in electric cars, with cost and functionality remaining barriers. Source: ExxonMobil.

2014 150
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EIA: light duty vehicle energy consumption to drop 25% by 2040; increased oil production, vehicle efficiency reduce US oil and liquid imports

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Reflecting slow growth in travel and accelerated vehicle efficiency improvements, US light-duty vehicle (LDV, cars and light trucks) energy use will decline sharply between 2012 and 2040, according to the US Energy Information Administration’s (EIA’s) Annual Energy Outlook 2014 (AEO2014) Reference case released today. per year, from 21.5

Oil 290
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DOE releases five-year strategic plan, 2014-2018; supporting “all of the above” energy strategy

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The US Department of Energy (DOE) released its five-year 2014-2018 Strategic Plan. The President’s Climate Action Plan contains a goal of doubling renewable energy generation from wind, solar, and geothermal sources between 2012 and 2020. Contribute to international efforts to address global climate change.

2014 225
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California makes first investments in $100M energy research & development program; also biogas and H2

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The California Energy Commission approved its first $10 million to fund Electric Program Investment Charge (EPIC) research and development (R&D) projects during its monthly business meeting today. Southern California Edison, and San Diego Gas & Electric Co. Southern California Edison, and San Diego Gas & Electric Co.

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EIA: world energy consumption to grow 56% 2010-2040, CO2 up 46%; use of liquid fuels in transportation up 38%

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Natural gas is the fastest-growing fossil fuel, as global supplies of tight gas, shale gas, and coalbed methane increase. The Brent crude oil spot price averaged $112 per barrel in 2012, and EIA’s July 2013 Short-Term Energy Outlook projects averages of $105 per barrel in 2013 and $100 per barrel in 2014.

2010 317