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EIA expects increased US crude oil production, with continued high petroleum prices in 2022

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The US Energy Information Administration (EIA) forecasts that US crude oil production will average 11.9 Despite the increases in production, EIA expects the Brent crude oil price to remain above $100 per barrel this year, according to the agency’s May 2022 Short-Term Energy Outlook (STEO). million barrels per day set in 2019.

Oil 344
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IEF, IHS Markit: deepening underinvestment in hydrocarbons raises specter of continued price shocks and volatility

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Underinvestment in oil and gas development extended into a second year in 2021 even as global energy demand rebounded, raising the prospect of price shocks, scarcity and growing energy poverty, according to a new report by the International Energy Forum (IEF) and IHS Markit. Investment slumped by 30% in 2020.

Price 416
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Rhodium Group estimates US GHG fell 2.1% in 2019, driven by coal decline

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This decline was due almost entirely to a drop in coal consumption. Coal-fired power generation fell by a record 18% year-on-year to its lowest level since 1975. An increase in natural gas generation offset some of the climate gains from this coal decline, but overall power sector emissions still decreased by almost 10%.

Coal 370
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The $32-Trillion Push To Disrupt The Entire Oil Industry

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Global oil and gas companies are increasingly facing an uphill battle as global warming policies are taking their toll. Most analysts and market watchers are focusing on peak oil demand scenarios, but the reality could be much darker. by Cyril Widdershoven for Oilprice.com.

Oil 231
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Rhodium Group estimates US GHG emissions rose 1.3% in 2022

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Despite efforts to continue stimulating the US economy in the wake of the pandemic, high inflation put a damper on economic growth, which was exacerbated by a spike in oil prices as a result of Russia’s invasion of Ukraine. Little change in transportation and industry. Consequently, the US economy grew 1.9% GDP increase in 2021.

Emissions 273
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Global Carbon Budget 2022: Global fossil CO2 emissions expected to grow 1.0% in 2022

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Growth in oil use, particularly aviation, and coal use are behind most of the increase in 2022. CO 2 emissions from coal use are expected to grow 1.0% [0.2% While the data indicates that coal use has plateaued in the last 10 years, there remains considerable uncertainty on when it will start to decline. for oil, 1.1%

Global 221
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BNEF, Snam, IGU report finds global gas industry set to resume growth post-pandemic; low-carbon technologies for long-term growth

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However, the resulting low gas prices, as well as clean air and climate policies, will promote further switching to gas from other more polluting energy sources, such as oil and coal. India is planning to almost double the length of its gas transmission grid, while China will grow its gas network about 60% by 2025.

Gas 243