Remove 2020 Remove Electric Remove International Remove Oil Prices
article thumbnail

Today’s Stunted Oil Prices Could Cause Oil Price Shock In 2020

Green Car Congress

As oil prices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil’s immediate future. In a speech made at the Association of International Petroleum Negotiators’ 2017 International Petroleum Summit, Johnston laid out his concerns for the future of oil.

article thumbnail

The Next Oil Price Spike May Cripple The Industry

Green Car Congress

Two diametrically opposed views dominate the current debate about where the oil price is heading. But, WoodMackenzie says, many of these still-to-be-launched projects are uneconomical at oil prices in the $50s per barrel, meaning that they should not be expected to get the all-clear anytime soon. Since (non-U.S.

article thumbnail

EIA projects increases in global energy consumption and emissions through 2050

Green Car Congress

The US Energy Information Administration (EIA) projects that, absent significant changes in policy or technology, world energy consumption will grow by nearly 50% between 2020 and 2050. EIA projects electricity generation to almost double in developing non-OECD countries by 2050.

Global 259
article thumbnail

IHS Markit: US gasoline demand could be cut almost in half due to COVID-19

Green Car Congress

The four-week average US gasoline demand for the week ending 6 March 2020 was 9.1 Further, according to the latest IHS Markit forecasts, the global auto industry will exerience an unprecedented and almost instant stalling of demand in 2020, with global auto sales forecast to plummet more than 12% from 2019 to 78.8 million units.

Gasoline 269
article thumbnail

IHS Markit: global oil demand still growing in the short term despite increasing focus on EVs

Green Car Congress

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.

Oil 276
article thumbnail

The New Oil Cartel Threatening OPEC

Green Car Congress

The reason they are likely to join in is that unlike in previous oil price cycles, now there are alternatives to fossil fuels. Electrification is where OPEC may have to face off with a future oil buyers’ cartel. Another survey identified price and range as additional roadblocks towards the mass adoption of EVs in India.

Oil 170
article thumbnail

The New Oil Cartel Threatening OPEC

Green Car Congress

The reason they are likely to join in is that unlike in previous oil price cycles, now there are alternatives to fossil fuels. Electrification is where OPEC may have to face off with a future oil buyers’ cartel. Another survey identified price and range as additional roadblocks towards the mass adoption of EVs in India.

Oil 150