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White House: OPEC+ oil production increases “simply not enough”

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On Wednesday, US National Security Advisor Jake Sullivan issued a statement calling on OPEC+ to increase oil production: While OPEC+ recently agreed to production increases, these increases will not fully offset previous production cuts that OPEC+ imposed during the pandemic until well into 2022. Just one day after the U.S.

Oil 243
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EIA projects world liquid fuels use to rise 38% by 2040, driven by growth in Asia and Middle East; transportation 92% of demand

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Crude and lease condensate includes tight oil, shale oil, extra-heavy crude oil, field condensate, and bitumen (i.e., oil sands, either diluted or upgraded). oil shale), and refinery gain. per year, as the mature economies react to sustained high fuel prices. OECD liquid fuels consumption declines by 0.1%

Asia 341
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EIA: light duty vehicle energy consumption to drop 25% by 2040; increased oil production, vehicle efficiency reduce US oil and liquid imports

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Personal air travel (billion seat-miles) grows by an average of 0.7% Domestic crude oil production increases sharply in the AEO2014 Reference case, with annual growth averaging 0.8 Some other key findings of the AEO2014 Reference case include: Low natural gas prices boost natural gas-intensive industries.

Oil 290
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IHS Markit: US gasoline demand could be cut almost in half due to COVID-19

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Further, according to the latest IHS Markit forecasts, the global auto industry will exerience an unprecedented and almost instant stalling of demand in 2020, with global auto sales forecast to plummet more than 12% from 2019 to 78.8 million units. A faltering global auto market will have a big hit on sales of EVs.

Gasoline 269
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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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Change in primary oil demand by sector and region in the central New Policies Scenario, 2010-2035. Under the WEO 2011 central scenario, oil demand rises from 87 million barrels per day (mb/d) in 2010 to 99 mb/d in 2035, with all the net growth coming from the transport sector in emerging economies. Click to enlarge. billion in 2035.

Oil 247
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EIA AEO2015 projects elimination of net US energy imports in 2020-2030 timeframe; transportation energy consumption drops

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The Annual Energy Outlook 2015 (AEO2015) released today by the US Energy Information Administration (EIA) projects that US energy imports and exports will come into balance—a first since the 1950s—because of continued oil and natural gas production growth and slow growth in energy demand. Tcf in the High Oil and Gas Resource case.

2020 150
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Li-ion Reserve in the World: How it Revolutionised the EV Industry

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Though steam was doing well powering the trains and factories incorporating a steam engine into a personal car was not a practical and efficient way and soon became obsolete mainly due to the long starting time and the need to fill water in a short span with other numerous other inconvenience. The Great Fall. during the early 1900s.

Li-ion 52