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

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April saw the US produce a record 10,543,000 barrels per day (MBD) of oil, according to data from the American Petroleum Institute. The first four months of this year also saw US petroleum demand average 750,000 barrels a day above the same period in 2017 despite higher prices. Domestic WTI crude oil prices averaged $66.25

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2020 Thanksgiving week gasoline consumption in US lowest since 1997

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Year-on-year comparisons are even more significant at the regional level, with some regions seeing declines of 20% or more from Thanksgiving Week 2019. The data speaks to a major problem for the petroleum industry and oil prices as it recovers from unprecedented demand declines for most of 2020. and 1.1%, respectively.

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

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However, the new forecast represents a slowing of future oil sands production growth compared to the predictions of last year’s forecast. According to CAPP’s 2014 Crude Oil Forecast, Markets and Transportation , total Canadian crude oil production will increase to 6.4 CAPP forecast. Click to enlarge. million barrels per day.

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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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The True Cause of Recessions: OIL. I was asked to speak about the economic impact of our oil dependency and so I began researching this topic to see if I could draw some insightful conclusions. All of the recessions listed above were caused by oil except the early 2000 recession that was caused by September 11th, 2001.

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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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Driving the sales increase is a forecast significant reduction in battery prices—the result being that during the 2020s EVs will become a more economic option than gasoline or diesel cars in most countries. At the core of this forecast is the work we have done on EV battery prices. —Salim Morsy.

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