Remove 2015 Remove Oil Prices Remove Parts Remove Water
article thumbnail

$10-Trillion Investment Needed To Avoid Massive Oil Price Spike Says OPEC

Green Car Congress

The OPEC published its World Oil Outlook 2015 (WOO) in late December, which struck a much more pessimistic note on the state of oil markets than in the past. On the one hand, OPEC does not see oil prices returning to triple-digit territory within the next 25 years, a strikingly bearish conclusion.

article thumbnail

Opinion: Consumers winning with low oil prices, for now

Green Car Congress

Lest we be too quick to forget whence we came, America is now 9-months into lower gasoline prices, which started their swoon the week of June 30, 2015 from a lofty national average just under $3.70, tumbling almost every subsequent week before bottoming and bouncing from $2.02 the end of January, according to gasbuddy.com.

article thumbnail

Harvard Kennedy School researcher forecasts sharp increase in world oil production capacity and risk of price collapse

Green Car Congress

Oil production capacity is surging in the United States and several other countries at such a fast pace that global oil output capacity could grow by nearly 20% from the current 93 million barrels per day to 110.6 Such an increase in capacity could prompt a plunge or even a collapse in oil prices, he suggests.

Oil 261
article thumbnail

When Will Russia Run Out Of Oil?

Green Car Congress

On a global level, 2015 and 2016 marked the lowest level of new conventional oil discoveries since 1952. billion barrels of conventional oil were discovered, roughly 45 days of global crude consumption or 0.2 Globally, exploratory drilling fell by almost 20 percent in 2015 and fell even further in 2016. In 2016, only 3.7

Russia 150
article thumbnail

EIA: China’s use of methanol in liquid fuels has grown rapidly since 2000; >500K bpd in 2016

Green Car Congress

As the assumed annual growth rates for forecast liquid fuels consumption have remained unchanged for 2015-18, the higher baseline 2014 data raises overall consumption through the forecast period. Methanol, like ethanol, is an alcohol with inherent issues such as its solubility in water and corrosiveness. Methanol in China.

2000 150
article thumbnail

IEA WEO-2012 finds major shift in global energy balance but not onto a more sustainable path; identifies potential for transformative shift in global energy efficiency

Green Car Congress

The cost of fossil-fuel subsidies has been driven up by higher oil prices; they remain most prevalent in the Middle East and North Africa, where momentum towards their reform appears to have been lost. Renewables become the world’s second-largest source of power generation by 2015 and close in on coal as the primary source by 2035.

Global 225
article thumbnail

Opinion: Is Russia Plotting To Bring Down OPEC?

Green Car Congress

Even a casual glance at the IMF’s World Economic Outlook statistics for Russia shows the tight correlation since 1992 between GDP growth on the one hand and oil and gas output, exports, and prices on the other (economic series available here ). in 2015 and 2016 respectively). in 2015 and 2016 respectively).

Russia 150