Sentences with phrase «global oil consumption»

Oil subsidies accounted for 40 % of the total, or nearly USD 105 billion, covering an estimated 11 % of global oil consumption.

First, the growing threat of global warming requires deep reductions in national and global oil consumption starting now, peak or no peak.

The two storms will lead to a reduction in global oil consumption by about 600,000 bpd for the month of September.

The net bullish position was equivalent to 1.411 billion barrels of crude and fuels - enough to satisfy global oil consumption for more than two weeks.

They found that a slightly lower price created by every barrel of increased oil sands production enabled by Keystone XL would increase global oil consumption by slightly more than half a barrel.

That would put total global oil consumption at 98.6 million bpd in 2018.

If global oil consumption continues to rise at the current rate of 1.3 per cent per year, the planet's proven oil reserves of 1.332 trillion barrels are expected to run out in 2041.

Lazarus said even though the pipeline's capacity would represent only about one per cent of global oil consumption, that would still be enough to incrementally move markets.

Recently, Ecuador nearly doubled its estimates of the ITT block's reserves, although even this amount is equal to merely seventeen days of global oil consumption.

Rising U.S. supply and recent cutbacks in estimates for global oil consumption in 2014 are offsetting geopolitical turmoil.

And while there is pressure on pricing in the industry, global oil consumption has continued to grow and the oil must move from production to refining operations.

Yet global oil consumption and the global economy grew steadily throughout this period.

For every barrel of extra oil obtained from tar sands as a result of the pipeline, global oil consumption would increase by 0.6 barrels, because the extra oil would lower oil prices and encourage people to use more.

This represents, for all plastics (not just packaging), about 6 % of global oil consumption, which is equivalent to the oil consumption of the global aviation sector.

Boyce observed that coal has been the world's fastest - growing fuel this past decade, with demand growing at nearly twice the rate of natural gas and hydro power and more than four times faster than global oil consumption.

Ethanol has made a small dent in global oil consumption.

Using International Energy Agency elasticity of demand and supply estimates, Erikson and Lazarus calculate that «for every barrel of increased production» attributable to the KXL, «global oil consumption would increase 0.6 barrels owing to the incremental decrease in global oil prices.»

Limiting fossil fuel production on U.S. federal lands would reduce both global oil consumption and overall carbon emissions, according to a new study by the Stockholm Environment Institute (SEI), a research organization focused on sustainable development.

The combined effect of lower E&D investment, a decline in output from US shale due to lower drilling activity and growth in global oil consumption will ultimately create upward pressure on prices.