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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.

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US renewables’ installed generating capacity beats coal

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Photo by Los Muertos Crew on Pexels.com Solar capacity additions hit the ground running in 2024, pushing renewables’ installed generating capacity past coal, according to new US Federal Energy Regulatory Commission (FERC) data. That’s more than the installed capacity of coal (207.15 of the total. GW) but also hydropower (101.41

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1 in 5 new car sales globally were EVs in 2023, and that’s curbed oil demand – IEA

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Their emissions dropped to a 50-year low while coal demand fell back to levels not seen since the early 1900s. It was a combination of strong renewables deployment, coal-to-gas switching, energy efficiency improvements, and softer industrial production that drove the decline in advanced economies’ emissions, reports the IEA.

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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.

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Tesla Megapack battery turns on to replace Hawaii’s last coal plant

Baua Electric

A Tesla Megapack battery system has officially turned on to replace Hawaii’s very last coal power plant. In early 2022, we reported that Tesla is deploying Megapacks at a new energy storage project that will replace Hawaii’s last remaining coal plant. It will enable better use of the state’s increasing renewable energy.

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EIA: light duty vehicle energy consumption to drop 25% by 2040; increased oil production, vehicle efficiency reduce US oil and liquid imports

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Among the more detailed transportation projections in AEO2014 are: LDVs powered by gasoline remain the dominant vehicle type in the AEO2014 Reference case, retaining a 78% share of new LDV sales in 2040, down from their 82% share in 2012. New vehicle sales shares are generally similar in AEO2014 and AEO2013 but with moderate variation.

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IEA: COVID-19 crisis causing the biggest fall in global energy investment in history

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A combination of falling demand, lower prices and a rise in cases of non-payment of bills means that energy revenues going to governments and industry are set to fall by well over $1 trillion in 2020, according to the report. Global investment in oil and gas is expected to fall by almost one-third in 2020. —Dr Birol.

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