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IHS Markit: US oil producers to halt 1.75 MMb/d per day of production; Canada to cut 0.5 MMb/d

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Due to the collapse in oil prices, IHS Markit expects US producers are in the process of curtailing about 1.75 The oil market fear that characterized March and the extreme price pressure that producers felt in April have galvanized producers across North America into unprecedented action.

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BP Statistical Review finds global oil share down for 12th year in a row, coal share up to highest level since 1969; renewables at 2%

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Oil demand grew by less than 1%—the slowest rate amongst fossil fuels—while gas grew by 2.2%, and coal was the only fossil fuel with above average annual consumption growth at 5.4% The report also highlighted supply disruptions as one of the major energy events of the year. globally, and 8.4% million bpd or 0.7%.

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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. For more information about the concept of Peak Oil please visit [link].

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Oil Prices Running Out Of Reasons To Rally

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Oil prices faltered at the start of the second week of the year, as fears set in about a rapid rebound in US shale production. The gains in the rig count come even as oil prices have held steady in the mid- to low-$50s per barrel. The pace and magnitude of each trend will ultimately drive oil prices one way or the other.

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

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Further, the new SEIS references the earlier 2011 Final EIS to suggest that the midstream industry is capable of developing alternative capacity to move WCSB and Bakken and Midcontinent crudes to markets in the event Keystone XL is not built. 2012 Keystone XL plan vs. 2008 plan. Length of new pipeline (miles). Surface waterbodies crossed.

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Are The Saudis About To Reveal The Best Kept Secret In Oil?

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The IPO will be a monumental event, one that the Wall Street Journal says could offer Wall Street some of the largest fees in history. Saudi Arabia often trades off with Russia—and more recently, with the US—as the world’s largest oil producer. Long-term oil forecasts are predicated, in part, on Aramco’s ability to do that.

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IEA World Energy Outlook view on the transport sector to 2035; passenger car fleet doubling to almost 1.7B units, driving oil demand up to 99 mb/d; reconfirming the end of cheap oil

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Short-term pressures on oil markets are easing with the economic slowdown and the expected return of Libyan supply. But the average oil price remains high, approaching $120/barrel (in year-2010 dollars) in 2035. Oil and the Transport Sector: Reconfirming the End of Cheap Oil. Click to enlarge.

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