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DNV GL paper suggests near-term success for LNG in shipping; alternative fuel mix to diversify over time

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According to DNV GL, the main drivers for the use of alternative fuels in shipping in the future can be classified in two broad categories: (a) Regulatory requirements and environmental concerns, and (b) availability of fossil fuels, cost and energy security. —“Alternative Fuels for Shipping”.

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EIA projects world liquid fuels use to rise 38% by 2040, driven by growth in Asia and Middle East; transportation 92% of demand

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The potential for growth in demand for liquid fuels is focused on the emerging economies of China, India, and the Middle East, while liquid fuels demand in the United States, Europe, and other regions with well-established oil markets seems to have peaked. Rising world oil prices attract investment in areas previously considered uneconomic.

Asia 341
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Stanford, UC Santa Cruz study explores ramifications of demand-driven peak to conventional oil

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The underlying assumption is that the world will immediately use whatever oil can be pumped from the ground, and that supply is independent of demand—that is, oil exploration investments bear no relation to the current oil price or expectations of future demand. —Brandt et al.

Oil 207