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Oil Prices Running Out Of Reasons To Rally

Green Car Congress

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. Aside from a single week in October, the US oil industry has deployed more rigs in every week dating back to June, a remarkable run that has resulted in more than 200 fresh rigs drilling for oil.

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When Will Russia Run Out Of Oil?

Green Car Congress

billion barrels of conventional oil were discovered, roughly 45 days of global crude consumption or 0.2 Russia’s exploration activities, which were hit not only by plummeting oil prices but also by a targeted sanctions regime, suffered a double blow during this period. In 2016, only 3.7 percent of global proved reserves.

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Toyota Plug In

Plug In Partners

Japan's top automaker, which leads the industry in gas-electric hybrids, has said it will rev up hybrid sales to 1 million a year sometime after 2010. The event represents the biggest gathering of national powerbrokers discussing the role of government regarding plug-in hybrid and electric vehicles. You can watch the event here.

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IHS: US gasoline demand exceeds 2020 levels for first time; still trails pre-pandemic demand significantly

Green Car Congress

Year-on-year gasoline sales in the United States have moved into positive territory for the first time on the one-year anniversary of the first major declines that resulted from COVID-induced stay at home orders. US gasoline same-store sales in gallons for the week ending 20 March 2021 were 10.1% due to impacts from Winter Storm Uri.

Gasoline 411
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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

Green Car Congress

Under the central New Policies Scenario, automotive sales in non-OECD markets exceed those in the OECD by 2020, with the center of gravity of car manufacturing shifting to non-OECD countries before 2015. Short-term pressures on oil markets are easing with the economic slowdown and the expected return of Libyan supply. Click to enlarge.

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Bank of America: Oil Demand Growth to Hit Zero Within a Decade, EVs the Culprit

Green Car Congress

I fully anticipate we’re going to keep a lot of pressure on that cobalt production,” Ted Miller, head of energy storage strategy and research at Ford, said at a mining event in South Africa. That would alter oil demand forecasts, but in complicated ways. EV sales are growing quickly, with the number of EVs on the roads picking up pace.

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Report: California Gasoline No Longer the Most Expensive

The Truth About Cars

From The Seattle Times : Now oil companies are choosing to pass on the compliance fees, the experts say. Those costs add up to about 50 cents per gallon for the consumer, according to the Oil Price Information Service, a Dow Jones company that collects fuel-pricing information for many clients, including AAA.