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EIA expects record global petroleum consumption in 2024, with lower crude oil prices

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EIA expects crude oil prices to decrease through 2023 and 2024, even as petroleum consumption increases, largely because growth in crude oil production in the United States and abroad will continue to increase over the next two years. Areas of uncertainty include Russian oil supply and OPEC production.

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VW eGolf supply, rising oil prices in 2020, and an electric double-decker bus: Today's Car News

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The Volkswagen eGolf is in extremely short supply. Analysts forecast oil prices may double by 2020. And Ontario, Canada, ends a rebate program for electric cars and chargers. The VW eGolf may be in short supply while the automaker gears up for. Los Angeles introduces the first electric double-decker bus.

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Supply Crunch Or Oil Glut: Investment Banks Can’t Agree

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This year, shale output forecasts combine with OPEC’s production cuts, geopolitical factors, and unexpected outages to further complicate supply/demand and oil price forecasts by Wall Street’s major investment banks. shale production, new oil discoveries, and new project start-ups also differ a lot. shale output.

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IHS Markit: US oil producers to halt 1.75 MMb/d per day of production; Canada to cut 0.5 MMb/d

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Due to the collapse in oil prices, IHS Markit expects US producers are in the process of curtailing about 1.75 The oil market fear that characterized March and the extreme price pressure that producers felt in April have galvanized producers across North America into unprecedented action. However, nearly 1.4

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Purdue study projects that under likely adoption rates, use of biojet fuel alone will not meet aviation emissions reduction targets for 2050; the need to go above 50% blends

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Uncertainty range of the aviation GHG emissions under the High Oil price scenario (the most optimistic for biojet adoption), given in a box plot depicting the minimum, quartile, and maximum values. The model uses three price scenarios: low oil, reference and high oil. Credit: ACS, Agusdinata et al.

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EIA projects world energy use to increase 53% by 2035; oil sands/bitumen and biofuels account for 70% of the increase in unconventional liquid fuels

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Unconventional liquids become increasingly important in the total supply of liquid fuels, according to IEO2011. World oil prices remain high in the IEO2011 Reference case, but oil consumption continues to grow; both conventional and unconventional liquid supplies are used to meet rising demand. Click to enlarge.

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Global biofuels production up 17% in 2010 to hit all-time high of 105 billion liters

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High oil prices, a global economic rebound, and new laws and mandates in Argentina, Brazil, Canada, China, and the United States, among other countries, are all factors behind the surge in production, according to research conducted by the Worldwatch Institute’s Climate and Energy Program for the website Vital Signs Online.

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