According to the International Energy Agency, the petrochemical industry will represent the largest global demand for additional crude oil consumption through 2040.

The US Energy Information Administration predicts natural gas will generate 33.1% of US electricity this year, up from 31.7% in 2017 and will rise to 34.3% in 2019. At the same time, coal-fired generation will fall to 29.6% this year, down from 31.7% in 2017, and fall further to 28.1% in 2019.

The US electric power industry has installed about 700 megawatts of utility-scale batteries on the nation’s electric grid. These batteries made up about 0.06% of US utility-scale generating capacity.  As demonstrated in the state of Colorado, electricity utilities are now putting out request for proposals that involve and energy source (coal, natural gas, wind, solar) and storage and are receiving surprising low electricity + storage bids. For example, power company Xcel Energy received seven wind and solar plus battery storage bids for a total of 4,048 megawatt-hours at a median bid of $30.60. The energy storage projects ranged from 4 to 10 hours in duration.

The South Korean Ministry of Oceans and Fisheries is investing $11 million over the next three years to commercially produce hydrogen. The agency intends to make use of a microbe called NA1, which will act as a catalyst to produce hydrogen from carbon monoxide and seawater. The demonstration facility will be capable of producing some 480 tons of hydrogen fuel every year which will be used to power fuel cell vehicles in the country.

A study by the University of Michigan’s Transportation Research Institute found the average annual cost to drive a gasoline-powered vehicle last year was $1,117. The average annual cost to drive a typical battery-electric vehicle, by contrast, was $485 last year.

Reuters finds that global automakers have announced plans to invest at least $90 billion on electric vehicles. Investments in electrified vehicles announced to date include at least $19 billion by automakers in the United States, $21 billion in China and $52 billion in Germany. In a series of announcements, the world’s largest automakers are about to introduce dozens of new battery electric and hybrid gasoline-electric models over the next five years. AutoNation Inc, the largest US auto retailing chain. expects by 2030 EVs could account for 15-20% of new vehicle sales in the US.  Most of those investments will be in China, where the government has enacted escalating electric-vehicle quotas starting in 2019.

A study by Bloomberg New Energy Finance finds that most electric cars in the US are leased. Leasing covers nearly 80% of battery electric vehicles and 55% of plug-in hybrids. To the authors of the study this signals that many consumers are expecting big performance improvements over the next three years and are not yet committed to buying an EV. EVs presently comprise less than 1% of all passenger vehicles on the road in the US.

The Canadian province of Ontario is offering to cover 80% of the cost of installing electric vehicle charging stations for companies and commercial building owners as the province tries to expand its charging infrastructure. The program will cover most of the capital costs of installing Level 2 charging stations, which take between four and eight hours to fully charge an electric vehicle. Employers and commercial building owners could qualify for up to $7,500 per charging space. Currently there are more than 1,300 public chargers operating in the country’s largest province.

With the rise of all-electric, hydrogen and autonomous vehicles, Motoring fears cars will become homogeneous blobs.







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