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Study estimates fuel economy improvements to US light-duty vehicles from 1975–2018 saved 2T gallons of fuel, 17B tons of CO2

Green Car Congress

A team from the University of Tennessee and the National Renewable Energy Laboratory (NREL) has the fuel savings due to fuel economy improvements over the past 43 years amount to approximately two trillion gallons of gasoline. Also since 1975, light-duty vehicle travel increased by 134% while fuel use increased by only 37%.

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EIA expects record global petroleum consumption in 2024, with lower crude oil prices

Green Car Congress

The US Energy Information Administration (EIA) expects global consumption of liquid fuels such as gasoline, diesel, and jet fuel, to set new record highs in 2024. Areas of uncertainty include Russian oil supply and OPEC production. EIA forecasts US gasoline prices to average around $3.30 per gallon in 2023 and $3.10

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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. Consequently, the US economy grew 1.9% in 2022, down from a 5.7% GDP increase in 2021.

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BNEF: Oil price plunge to have only moderate impact on low-carbon electricity development, but likely to slow EV growth

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The collapse in world oil prices in the second half of 2014 will have only a moderate impact on the fast-developing low-carbon transition in the world electricity system, according to research firm Bloomberg New Energy Finance. However, the slump in the Brent crude price per barrel from $112.36 on 30 June to $61.60

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Opinion: Consumers winning with low oil prices, for now

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The question begs then, has that money shown up in other parts of the economy? Columbia and Associate Director of the Maguire Energy Institute at the Cox School of Business at Southern Methodist University in Dallas says it has: “No question we’re seeing the effects of lower oil prices throughout the economy.”.

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A Guide To Fuel Efficient Driving — Part Three (2022 Update)

CleanTechnica EVs

Thanks to Covid-induced supply chain issues and Russia’s war with Ukraine, oil prices have surged to over $100/barrel at times. That and the dearth of refining capacity (converting crude oil to gasoline/diesel) has pushed the price of gasoline and diesel to record highs.

Ukraine 117
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EIA projects increases in global energy consumption and emissions through 2050

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In its International Energy Outlook 2021 (IEO2021), EIA projects that strong economic growth, particularly with developing economies in Asia, will drive global increases in energy consumption despite pandemic-related declines and long-term improvements in energy efficiency. —Stephen Nalley.

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