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The COVID-19 pandemic has significantly affected both consumer and commercial transportation, but global oil demand will probably continue to grow through 2030, according to a new study. In three of the four scenarios, global oil demand continued to grow through 2030. Lines represent global oil demand by study scenario.
The economic stimuluspackage currently before Congress could include incentives for both buyers of electric vehicles and electric vehicle battery manufacturers. Energy security, the politics and marketing of oil and concerns about climate change are creating an unprecedented global push toward electric vehicles.
from its reliance on imported oil. Tax Credits Instead, Obama backed tax credits of as much as $7,500 inthe stimuluspackage approved in February for buyers of plug-incars. Oil prices are going to go up. We will have packages that will be verycompetitive at that time.” policy shifts to favor battery-powered autos.
Growth in oil use, particularly aviation, and coal use are behind most of the increase in 2022. During the Global Financial Crisis in 2008/9, the COVID19 pandemic, and now the Ukrainian War, economic stimuluspackages were meant to put the world on a cleaner and greener path, but this is not at all evident in the CO 2 emissions data.
Dr. Paul addressed a positive change—the days of increasing US oil consumption may be over. “ We reached peak oil consumption in the US in 2008 and the same is true in the EU and Japan. ” M barrels/day of oil within the next 10 years ”. Dr. Paul still sees significant growth in the developing world. Billion vs. $28.3
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