For most of the 20th Century, the United States was the world’s largest producer of petroleum. U.S. oil fields provided not only all our domestic needs; they generated a surplus for export. U.S. oil fueled the Allied armies during WWII. But U.S. domestic production peaked in the early 1970s and has declined ever since, while our consumption has continued to climb steeply. The shortfall has been made up by imported oil.
Americans use a lot of oil. Although we constitute only 5% of the world’s population, we consume 25% of global oil production. America epitomizes the petroleum-dependent lifestyle.
Energy giant Exxon Mobil has released its annual energy outlook, which predicts major growth for hybrids and other alternative-drivetrain technologies as the world seeks to lower carbon emissions and limit oil dependency. By 2040, Exxon says it expects that half of new cars will come equipped with some form of alternative propulsion system―be it hybrid, electric, fuel cell, natural gas or other.
The U.S. State Department has released an environmental assessment declaring “limited adverse environmental impacts” associated with a proposed extension of the Keystone oil sands pipeline—which would transport as much as 900,000 barrels of oil per day from Alberta, Canada, to United States Gulf Coast.
According to a recently released report by the Worldwatch Institute, international oil consumption grew 3.1% percent in 2010, boosted mostly by increased demand from the developing world—which according to the report "shows no sign of slowing."
Citing desire to reduce fuel consumption and emissions, the Obama administration is continuing to push hard to increase the U.S. fleet-wide mpg standards required in just a few years from now.
Ongoing negotiations between the White House and auto industry are now centered on a proposed 56.2 mpg Corporate Average Fuel Economy (CAFE) standard for 2017-2025.
If settled on in September, so high a mandate would largely be applauded by environmentalists and some others in favor of more efficient vehicles, such as hybrids and electrics, who now favor the administration’s stance.
In contrast, the strict mpg requirement is being decried as a virtual death knell to SUVs, high-power vehicles and safer (more massive) cars by opponents in the auto industry.
Experimental electric vehicle conversions last year by General Motors in Korea, Germany and as of last week in India, have some wondering when the company will create a pure battery electric to compete against the likes of the Nissan LEAF and pending Ford Focus EV. On Thursday June 23, GM began displaying and testing an all-electric version of its Chevrolet Beat minicar in New Delhi. The Beat Electric is not proposed for sale anytime soon, but India was chosen as a demanding environment – as well as growing market – to demonstrate the car. It is powered by a 300-cell, 20-kWh, liquid-cooled, lithium-ion battery similar to what is in the Chevrolet Volt, but larger for the smaller, but non-range-extended car.
Worldwide gasoline prices range from less than $1 per gallon to more than $10 depending upon where you buy, thanks to subsidies, price controls, geography and other factors. But what's the true price of gasoline? In a new video, the Center for Investigative Journalism attempts to answer that question, placing the total as high as $15 per gallon.
Back in January, a recent spike in the global oil markets was written off by many analysts as “speculative,” or "temporary." But with gas prices in the United States continuing to surpass record monthly highs, drivers may soon have to come to terms with the realization that cheap gas is gone for good.
Following the script of other recent oil spikes, the latest rise in gasoline prices has precipitated a series of calls from both Democrats and Republicans to use a portion of the Strategic Petroleum Reserve. But for all of the rhetoric surround the reserve, not many people seem to know all that much about it or its purpose. With that in mind, HybridCars.com takes a look at five common misunderstandings about Strategic Petroleum Reserve, and its real power to protect us from a shortage.
