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API reports record US petroleum production in April: 10.543 million b/d; strongest April demand since 2007

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Strong global demand raised international oil prices by more than domestic ones. Domestic WTI crude oil prices averaged $66.25 Meanwhile, international Brent crude oil prices continued to increase by more—8.5 per barrel, which reinforces global economic and oil demand strength. MBD in April.

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BNEF forecasts EVs to be 35% of global new car sales by 2040; cost of ownership below conventional-fuel vehicles by 2025

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A new study by Bloomberg New Energy Finance (BNEF) forecasts that sales of electric vehicles will hit 41 million by 2040, representing 35% of new light duty vehicle sales worldwide. million EVs have now been sold worldwide and 2015 saw strong growth, they still represented less than 1% of light duty vehicle sales last year. per year.

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Increase in US rig count will not cap oil prices

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The impact of rising oil prices on North American light tight oil (LTO) production is said to be a “Catch 22”, the title of Joseph Heller’s popular 1961 novel set in WWII. Too many analysts continue to believe drilling and service has the same problem with rising oil prices. by David Yager for Oilprice.com.

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The Real Reason for USA based Economic Recessions.

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There have been 5 recession since then until now and I wanted to see if Oil had anything to do with them, because deep in my heart, I knew the most recent recession was directly caused by the oil price spikes that started in 2007 and peaked in 2008. This increase in oil prices again pushed the economy into a recession.

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CAPP forecasts oil sands development still drives steady Canadian oil production growth to 2030

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According to CAPP’s 2014 Crude Oil Forecast, Markets and Transportation , total Canadian crude oil production will increase to 6.4 For comparison, CAPP’s 2013 forecast estimated total production in 2030 at 6.7 million barrels per day, with oil sands production contributing 5.2 CAPP does not forecast oil prices.

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State Department issues Draft Supplemental Environmental Impact Statement on Keystone XL Pipeline: climate change impacts

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Comparison of proposed Keystone XL route to previously proposed project segment. The US Department of State (DOS) has released its Draft Supplemental Environmental Impact Statement (SEIS) in response to TransCanada’s May 2012 application for the Keystone XL pipeline that would run from Canada’s oils sands in Alberta to Nebraska.

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NETL Report Concludes CTL Plus Carbon Capture Results in Fuel with 5-12% Less Lifecycle GHG Than Petroleum Diesel; Modest Biomass Additions Lower GHG Further

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Background colors of the cells represent the crude oil price required for economic feasibility. These synthetic fuels are economically competitive with petro-diesel when the crude oil price (COP) is at or above $86 per barrel (based on a 20% rate of return, in January 2008 dollars, with a carbon price of zero).

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