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President Biden calls on Congress, States for fuel tax holiday; increase in refinery capacity

Green Car Congress

President Biden called on Congress to suspend the federal gas tax for the next 90 days, through the busy summer driving season—18 cents per gallon for gasoline and 24 cents per gallon for diesel. He also continued his calls for the oil industry to increase refinery capacity to increase production. As of 10 June, EIA reported 93.7%

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

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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%

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ExxonMobil adds 2.7B barrels oil equivalent to reserves; replaces 183% of 2017 production

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billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183% of production. billion oil-equivalent barrels at year-end 2017. During 2017, proved additions at Upper Zakum in Abu Dhabi totaled more than 800 million barrels of crude oil. Exxon Mobil Corporation added 2.7

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Actual fuel economy of cars and light trucks: 1966-2017

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Specifically, this study examines actual fuel economy of cars and light trucks (pickup trucks, SUVs, and vans) from 1966 through 2017. Department of Transportation were the sources of the information for 1986 through 2017. The graph below shows the changes in actual vehicle fuel economy from 1966 through 2017. total Btu).

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ExxonMobil announces 6th oil discovery offshore Guyana with Ranger-1; Guyana may move from non-producer to regional powerhouse

Oil (..)

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EIA: biofuels are displacing petroleum-based distillate fuel oil consumption on the West Coast

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Consumption of distillate fuel oil in the US West Coast, as measured by product supplied, decreased to its lowest level since 2002 last year and continues its decline this year, according to the latest “This Week in Petroleum” report from the US Energy Information Administration (EIA).

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US Shale Is Immune To An Oil Price Crash In 2017

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shale in particular—is effectively capping the oil price gains from that agreement. Four months after the OPEC/NOPEC deal took effect, oil prices dropped to the levels preceding the agreement, amid concerns over still stubbornly high inventories and rising U.S. oil production,” the consultancy noted.