UPDATE ON THE WORLD’S OIL HABIT
Transportation Forecast: Global Fuel Consumption; Road Transportation Sector Consumption of Gasoline, Diesel, Biofuels, Natural Gas, Liquefied Petroleum Gas, Electricity, and Hydrogen: Global Market Forecasts, 2014-2035
3Q 2014 (Navigant Research)
“Reducing the transportation sector’s dependence on oil [and the associated costs of it] has long been a policy goal of governments globally…More than 1.2 billion vehicles are on the world’s roads today, with nearly 98% being powered by blends of gasoline or diesel… Markets for both vehicles and fuels have gradually begun to respond to these government programs [subsidizing alternative fuels and alternative fuel vehicles (AFVs), biofuels mandates, and higher fuel economy requirements for new vehicles], and alternative fuels are beginning to have an impact on global oil demand…[but] no one alternative fuel has been pinpointed as the perfect alternative fuel solution. Navigant Research forecasts that annual energy consumption in the global road transportation sector will grow from 81.1 quadrillion Btu in 2014 to 101.7 quadrillion Btu in 2035…” click here for more
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