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Chevron announces $32.7B capital and exploratory budget for 2012; LNG and deepwater investments propel a step change

Green Car Congress

Another 11% is associated with the company’s downstream businesses that manufacture, transport and sell gasoline, diesel fuel and other refined products, fuel and lubricant additives, and petrochemicals. Kazakhstan/Russia: Caspian Pipeline expansion. Spending of $28.5 Brazil: development of the Papa-Terra deepwater field.

Chevron 170
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IEA World Energy Outlook view on the transport sector to 2035; passenger car fleet doubling to almost 1.7B units, driving oil demand up to 99 mb/d; reconfirming the end of cheap oil

Green Car Congress

Subsidies that encourage wasteful consumption of fossil fuels jumped to over $400 billion. The share of fossil fuels in global primary energy consumption falls from around 81% today to 75% in 2035. By contrast, subsidies for fossil fuels amounted to $409 billion in 2010. billion, around 20% of the world’s population.

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