Tag: Fossil Fuels (Page 1 of 2)

Suncor Energy’s CEO » The shift to electric vehicles and other low-carbon technologies could disrupt crude oil demand on a similar scale to the coronavirus pandemic

Jeff Lewis / Reuters »

The comments are a stark prediction in an industry that frequently downplays the impact of electrification and points to forecasts of rising global oil demand to justify new investment and pipeline expansions.

Canada is the world’s fourth-largest oil producer and the sector accounts for 10.6% of the country’s gross domestic product.

“While Canadian oil and gas will remain a significant part of the global energy mix for some time, we have to take advantage of new opportunities that offer attractive growth prospects,” Suncor CEO Mark Little said in an opinion article for Canada’s Corporate Knights magazine.

Related » James S Murray / Business Green » If all cars were electric, UK carbon emissions would drop by 12 per cent

Analysts BloombergNEF foresees EV sales to accelerate in the years ahead; to account for 58% of new passenger car sales globally by 2040

Bloomberg’s Electric Vehicle Outlook 2020 »

Sales of electric passenger vehicles are forecast to fall 18% in 2020, to 1.7 million worldwide – with the coronavirus crisis interrupting ten successive years of strong growth. However, sales of combustion engine cars are set to drop even faster this year (by 23%), and the long-term electrification of transport is projected to accelerate in the years ahead.

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The International Energy Agency expects carbon dioxide emissions to decline by 8 percent this year due to the Coronavirus COVID-19

Irina Slav, OilPrice.com »

The agency said in the new edition of it Global Energy Review that the annual drop in oil demand this year could reach 9 percent, which translates into a loss of 9 million bpd. This would make 2020 oil demand equal to the average levels in 2012.

U.S. drivers have a strong interest in vehicle fuel economy, despite gas prices averaging less than $2 a gallon nationwide

Interestingly, the Consumer Reports survey of American drivers didn’t ask potential customers how the environment or climate change would factor into their next vehicle purchase.

Jeff S. Bartlett / Consumer Reports »

It’s clear from the responses that consumers are focused on saving costs on their next vehicle, both up-front and long-term.

Green Car Reports »

Fuel economy was the primary concern of the 2,164 United States adults surveyed between April 3 and April 13, 2020, the magazine reported.

When asked directly, 59% of respondents said fuel economy was “very” or “extremely” important when purchasing a new vehicle.

 

The oil slump spurs talk of ending fossil-fuel subsidies

Ewa Krukowska / Bloomberg »

“Now is a good time to reflect how our regulatory framework — including tax systems –- can better support a more sustainable and resilient future,” Simson said in an e-mailed response to questions. “Getting rid of fossil fuel subsidies while lowering taxes on electricity can nudge us in the right direction, without putting too much pressure on the consumers.”

More » Electrek

Investment Week » Oil pricing slump will not pull plug on electric vehicle sales

The cost of crude has a limited impact on fuel-pump prices. Additionally, oil pricing does not drive most EV markets.

Deirdre Cooper of Ninety One Asset Management / Investment Week »

The debate highlights some common misunderstandings about what is driving the transition to cleaner energy.

Related » Katie Fehrenbacher / Green Biz » Why the electric vehicle wave is still coming »

Four trends that will keep EVs moving forward:

    1. Economics
    2. Policies
    3. Electric fleets
    4. Clean air

U.S. drivers set to post largest decline in miles traveled in 50 years

Paul A. Eisenstein / The Detroit Bureau »

According to data from navigation service TomTom, Friday morning traffic in the City of Los Angeles ran barely half of what it would be in more normal times and, in recent days has been off by as much as 85%. The same is true for other major cities around the U.S., including New York, Atlanta and Chicago.

With lockdowns related to the coronavirus pandemic a major factor, American drivers are expected to not just drive less for all of 2020 but experience the biggest year-over-year decline in a full half-century, according to CCC Information Services. »

McLaren advocates burning synthetic fuel as alternative to EVs

Jim Holder / Autocar »

McLaren is advancing plans to create a development car that runs on synthetic fuel to prove the technology’s validity as an alternative to battery-electric vehicles for lowering the ecological impact of motoring, COO Jens Ludmann has revealed. »

More » Motor Authority, CNET, Green Car Reports, Robb Report, Jalopnik, The Detroit Bureau (April 13, 2020)

US Federal government rolls back the fuel efficiency standards to a 1.5% year-over-year improvement in mileage vs the 5% improvement the Obama Administration had negotiated with automakers

In a blow to efforts to curb greenhouse gas emissions, the so-called SAFE Rule will drastically lower how much automakers need to improve on fuel efficiency year-over-year.

The U.S. Department of Transport as well as the Environmental Protection Agency (EPA) confirmed what had long been rumoured in a press release, calling the rule SAFE, for “Safer Affordable Fuel-efficient vehicles.”

The ultimate effect of significantly lowering vehicle gas mileage standards will lead to a reduction of investment and interest in EVs in the United States while the rest of the world continues to move forward.

More » EPA Press Release, Plug-In America, Green Car Reports, NBC News, Fleet Owner, Autoblog, Electrek

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