Exxon Mobil Corp’s Darren Woods says his company is at the center of a delicate balancing act between those who want a cleaner environment and those seeking economic growth that depends on rising energy demand.
“Civilization requires energy, but energy use must not destroy civilization,” the pope told the more than two-dozen leaders at the event.
Pope Francis, who wrote a major document on protection of the environment from global warming in 2015, is expected to address the group on the last day of the June 8-9 conference.
You probably have noticed that gasoline prices are again on the rise. Predictably, I have already seen stories arguing about President Trump’s culpability in this current price rise.
Manila, the hyper-dense capital of The Philippines, is known for its traffic jams. In a 2016 survey, navigation company Waze ranked Manila as having the “worst traffic on Earth.”
Electric vehicle ownership will balloon to about 125 million by 2030, spurred by policies that encourage drivers, fleets and municipalities to purchase clean-running cars, the policy advisor to energy-consuming nations forecast on Wednesday.
Projections have suggested that the advent of electric vehicles will have a dramatic impact on oil demand and now its starting to show. With China adding the equivalent of London’s bus fleet every 5 weeks, that’s 279,000 barrels of oil a day removed from demand.
The environmental case for electric vehicles in China has been complicated by research questioning whether the cars could produce more pollution than those with internal combustion engines.
The agricultural sector from the United States to Russia, and Brazil to Europe, is seeing profits harmed by the rise in diesel prices. The global oil benchmark, Brent crude LCOc1, touched $80 a barrel for the first time since late 2014 on Thursday.
The cost of Asia’s growing thirst for oil will surpass $1 trillion this year, about twice as much as in 2015 and 2016, as oil prices touch $80 per barrel and continental demand hits a record.
Our Mission: Fuel Freedom Foundation is working to reduce the cost of driving your existing car or truck by opening the market to cheaper, cleaner, American-made fuel choices at the pump.