2019 Economy Gas-Electric Oil Prices 
Green Car Congress
JANUARY 11, 2023
According to EIA’s January Short-Term Energy Outlook (STEO) , global liquid fuel consumption will exceed 100 million barrels per day, on average, in 2023 for the first time since 2019, then average more than 102 million barrels per day in 2024. Areas of uncertainty include Russian oil supply and OPEC production. per gallon in 2024.
Green Car Congress
JANUARY 11, 2023
Despite efforts to continue stimulating the US economy in the wake of the pandemic, high inflation put a damper on economic growth, which was exacerbated by a spike in oil prices as a result of Russia’s invasion of Ukraine. Consequently, the US economy grew 1.9% in 2022, down from a 5.7% GDP increase in 2021.
Green Car Congress
APRIL 7, 2021
EIA’s annual Summer Fuels Outlook, released today with EIA’s Short-Term Energy Outlook (STEO), expects a 15% increase in US highway travel this summer but still less highway travel than in the summer of 2019. Retail gasoline prices recently reached their highest levels in almost two years, hitting an average of $2.87/gal MMBtu in 2021.
Green Car Congress
NOVEMBER 4, 2019
Energy efficiency has tremendous potential to boost economic growth and avoid greenhouse gas emissions, but the global rate of progress is slowing, according to a new report by the International Energy Agency. Primary energy intensity—an indicator of how much energy is used by the global economy—improved by just 1.2%
Green Car Congress
APRIL 23, 2018
Short-term oil demand is still growing strong and will continue to do so through the end of 2020 despite the market’s increasing focus on electric vehicles and the forecasted future plateau in oil demand, according to new analysis from IHS Markit, a global business information provider. Source: IHS Markit 2018.
Green Car Congress
DECEMBER 5, 2012
new appliance standards and CAFE) and changes in the way energy is used in the US economy. quadrillion Btu in 2035, as a result of fuel economy improvements achieved through stock turnover as older, less efficient vehicles are replaced by newer, more fuel-efficient vehicles. Domestic oil production will rise to 7.5
Green Car Congress
DECEMBER 16, 2013
The rising fuel economy of LDVs more than offsets the modest growth in VMT, resulting in a 25% decline in LDV energy consumption decline between 2012 and 2040 in the AEO2014 Reference case. Domestic crude oil production increases sharply in the AEO2014 Reference case, with annual growth averaging 0.8 per year, from 21.5
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