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Biden authorizes release of more than 180M barrels of oil from Strategic Petroleum Reserve; 1M bpd for 6 months

Green Car Congress

In an effort to address the rapidly increasing cost of gasoline, President Biden authorized the release of 1 million barrels of oil per day for the next six months—more than 180 million barrels—from the Strategic Petroleum Reserve (SPR). 2005 Hurricane Katrina Sale. (The 2005 Hurricane Katrina Sale.

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US Treasury allows Chevron to resume oil production in Venezuela, delivery to US only

Green Car Congress

GL 41 explicitly does not authorize the sale of petroleum or petroleum products produced by or through the Chevron JVs for the exportation to any jurisdiction other than the United States. from receiving profits from the oil sales by Chevron. This authorization prevents PdVSA (Petróleos de Venezuela, S.A.)

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Cratering motor fuel sales in Norway show the death spiral that can end oil

Electrek

It’s common knowledge that Norway is the land of electric cars and that the country keeps breaking EV sales records with virtually no new fossil vehicle sales. But what’s really important is the effect those EVs are having on oil sales, which are in steep decline in the country as a result – and the same thing could happen elsewhere.

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Bad News: Record Oil Imports into China in 2023

CleanTechnica EVs

More than half of the world’s EV sales have occurred there in recent years. In 2023, 25% of auto sales in China were sales of full electric vehicles. continued] The post Bad News: Record Oil Imports into China in 2023 appeared first on CleanTechnica. It is a standard of the rapid, uplifting EV revolution.

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EIA expects increased US crude oil production, with continued high petroleum prices in 2022

Green Car Congress

The US Energy Information Administration (EIA) forecasts that US crude oil production will average 11.9 Despite the increases in production, EIA expects the Brent crude oil price to remain above $100 per barrel this year, according to the agency’s May 2022 Short-Term Energy Outlook (STEO). million barrels per day this year and 12.8

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EV sales point to oil demand peaking by 2030 – so why is big oil ramping up production?

The Driven EV News

Global EV growth is being forecast by the IEA to drive an overall peak in oil demand within just a few years. So why is the oil industry ramping back up? The post EV sales point to oil demand peaking by 2030 – so why is big oil ramping up production? appeared first on The Driven.

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1.8 Million Barrels of Oil a Day Avoided from Electric Vehicles

CleanTechnica EVs

We love covering electric vehicle sales and new electric vehicle models, but something we get to cover much less is. Million Barrels of Oil a Day Avoided from Electric Vehicles appeared first on CleanTechnica. continued] The post 1.8

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