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Large differences among the recent increases in the cost of powering gasoline, diesel, and electric vehicles

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This post examines the recent changes in the costs of powering gasoline, diesel, and electric vehicles. The expectation was that the cost of electricity had recently increased much less than the costs of gasoline and diesel. Electricity. $/g. Month (2022). Change from January (%). $/g.

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BNEF: net-zero road transport by 2050 still possible, but big push needed

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The road transport sector could still reach net-zero emissions by 2050 through electrification, but urgent action would be required from policymakers and industry participants, according to research company BloombergNEF’s (BNEF) latest annual Long-Term Electric Vehicle Outlook (EVO). million barrels of oil demand per day.

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Big Oil Betting On Electric Vehicles

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Oil demand for transportation fuel see its “ demand will flatten out ,” after 2030, Couse said. Colin McKerracher, head of advanced transport analysis at Bloomberg New Energy Finance, sees Couse’s forecast as the highest EV sales margin yet to be forecasted by a major company in the oil sector. Maybe even decline. ”.

Oil 218
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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% in 2022, down from a 5.7%

Emissions 273
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EIA projects decline in transportation sector energy consumption through 2037 despite increase in VMT, followed by increase

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EIA’s Annual Energy Outlook 2019 projects continued robust growth in US energy production, emergence of the United States as an energy exporter, and a cleaner S electric power generation mix. This growth arises from increases in air transportation outpacing increases in aircraft fuel efficiency. Other findings.

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UK to invest £200M in fleet of zero-emission heavy-duty trucks

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UK Transport Minister Trudy Harrison announced more than £200 million (US$244 million) of government funding will be injected into an extensive zero-emission road freight demonstrator program. —Transport Minister Trudy Harrison. This will begin with demonstrations of battery electric and hydrogen fuel cell heavy-duty trucks.

Emissions 359
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California Governor orders all new cars and passenger trucks sold in California be ZEVS by 2035; medium-and heavy duty trucks by 2045

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California Governor Gavin Newsom has issued an executive order requiring sales of all new passenger vehicles to be zero-emission by 2035 and additional measures to eliminate harmful emissions from the transportation sector. It supports companies who transition their upstream and downstream oil production operations to cleaner alternatives.