• 13 hours PDVSA Booted From Caribbean Terminal Over Unpaid Bills
  • 15 hours Russia Warns Ukraine Against Recovering Oil Off The Coast Of Crimea
  • 17 hours Syrian Rebels Relinquish Control Of Major Gas Field
  • 18 hours Schlumberger Warns Of Moderating Investment In North America
  • 19 hours Oil Prices Set For Weekly Loss As Profit Taking Trumps Mideast Tensions
  • 20 hours Energy Regulators Look To Guard Grid From Cyberattacks
  • 21 hours Mexico Says OPEC Has Not Approached It For Deal Extension
  • 23 hours New Video Game Targets Oil Infrastructure
  • 1 day Shell Restarts Bonny Light Exports
  • 1 day Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 1 day Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 2 days British Utility Companies Brace For Major Reforms
  • 2 days Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 2 days Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 2 days Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 2 days OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 2 days London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 2 days Rosneft Signs $400M Deal With Kurdistan
  • 2 days Kinder Morgan Warns About Trans Mountain Delays
  • 2 days India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 3 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 3 days Russia, Saudis Team Up To Boost Fracking Tech
  • 3 days Conflicting News Spurs Doubt On Aramco IPO
  • 3 days Exxon Starts Production At New Refinery In Texas
  • 3 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 4 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 4 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 4 days China To Take 5% Of Rosneft’s Output In New Deal
  • 4 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 4 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 4 days VW Fails To Secure Critical Commodity For EVs
  • 4 days Enbridge Pipeline Expansion Finally Approved
  • 4 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 4 days OPEC Oil Deal Compliance Falls To 86%
  • 5 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 5 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 5 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 5 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 5 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 5 days Aramco Says No Plans To Shelve IPO
The Natural Gas Market Is Set To Boom

The Natural Gas Market Is Set To Boom

With the new lower-for-longer oil…

Transportation Emissions Could Rise by 71% by 2050

Transportation Emissions Could Rise by 71% by 2050

A new report from the Intergovernmental Panel on Climate Change published on April 13 finds that the transportation sector is set to be the fastest growing source of greenhouse gas emissions out of all major energy sectors. Emissions from cars, trucks, planes, and ships could rise by 71% over the next several decades from 2010 levels.

Most of the demand will come from emerging economies and rising incomes in countries like China, India and Brazil. As consumers make more money, they will purchase cars for the first time. For example, in China, per capita GDP hit $10,661 in 2014, up from $3,614 a decade ago, according to Bloomberg. Car sales will grow by 4% worldwide in 2014 alone, hitting 70.2 million. By 2020, the annual car market could expand by 27%.

This means that global oil demand could remain very robust for decades, and absent major increases in supply or strong gains in efficiency, prices could jump as a result. Unlike the electric power sector, where renewable energy is much further along and could begin to capture a significant share of the market, transportation fuels are almost entirely dependent on crude oil.

Related Article: White House Targets Methane Emissions

The IPCC report says that cities are at the heart of the problem, as well as the opportunity. Transportation already accounts for about one-quarter of global greenhouse gas emissions, and with millions of people set to get into cars for the first time, cities could become choked in traffic, resulting in greater pollution and rising energy consumption. But with better urban planning, cities could reduce emissions and oil consumption by incorporating larger populations into denser areas, centered around mass transit.

The IPCC report concludes that there are significant institutional, legal, financial, and cultural barriers in place that could prevent the world from reining in the problem of rising transportation pollution.

By Charles Kennedy of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News