Energy Policy Act of 2005
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Working Paper
WORKING PAPER The Value of Oil Price Projectiom Nebojsa Nakinnovic Leo SchrattenhoLzer October 1935 IQ-85-68 lnternrtionrl Institute tor -lid System, Anrlyth NOT FOR QUOTATION WITHOUT THE PERMISSION OF THE AUTHORS The Value of Oil Price Projections Nebo jsa Nakicenovic Leo SchrattenhoLzer October 1935 TW-85-68 Working Papers are interim reports on work of the International Institute for Applied Systems Analysis and have received only limited review. Views or opinions expressed herein do not necessarily represent those of the Institute or of its National Member Organizations. INTERNATIONAL INSTITUTE FOR APPLIED SYSTEMS ANALYSIS 2361 Laxenburg, Austria -ABSTRACT AND SUBXAXY The central theme of this paper is the development of the international price of crude oil. A short overview of oil price his6ry is followed by a discussion of the factors that were responsible for previous, sometimes erratic, changes. We con- clude that these factors are likely to maintain their influence in the future, thus giving the forecasts of oil prices a high uncertainty. This uncertainty is reflected in several reports containing oil price proje[ctions. We argue, therefore, that a question soieiy about future oil prices must remain unanswered. Tnis does not render the efforts to examine the future futile; it simpiy means that the question shouid be rephrased. We offer one possible problem formulation that explicitly accounts for the high uncertainty. This formulation requires that specific policy probiems and options for solving them be specified before oil prices are projected - a condition that does not always hold or, at least, that does not seem to be regarded as important enougn to be described in many reports on oil price studies. -
U.S. Energy in the 21St Century: a Primer
U.S. Energy in the 21st Century: A Primer March 16, 2021 Congressional Research Service https://crsreports.congress.gov R46723 SUMMARY R46723 U.S. Energy in the 21st Century: A Primer March 16, 2021 Since the start of the 21st century, the U.S. energy system has changed tremendously. Technological advances in energy production have driven changes in energy consumption, and Melissa N. Diaz, the United States has moved from being a net importer of most forms of energy to a declining Coordinator importer—and a net exporter in 2019. The United States remains the second largest producer and Analyst in Energy Policy consumer of energy in the world, behind China. Overall energy consumption in the United States has held relatively steady since 2000, while the mix of energy sources has changed. Between 2000 and 2019, consumption of natural gas and renewable energy increased, while oil and nuclear power were relatively flat and coal decreased. In the same period, production of oil, natural gas, and renewables increased, while nuclear power was relatively flat and coal decreased. Overall energy production increased by 42% over the same period. Increases in the production of oil and natural gas are due in part to technological improvements in hydraulic fracturing and horizontal drilling that have facilitated access to resources in unconventional formations (e.g., shale). U.S. oil production (including natural gas liquids and crude oil) and natural gas production hit record highs in 2019. The United States is the largest producer of natural gas, a net exporter, and the largest consumer. Oil, natural gas, and other liquid fuels depend on a network of over three million miles of pipeline infrastructure. -
ENERGY STAR Lamps V2.0 Revised Spec
ENERGY STAR® Program Requirements Product Specification for Lamps (Light Bulbs) Eligibility Criteria Version 2.0 Following is the Version 2.0 product specification for ENERGY STAR certified Lamps. A product shall meet all of the identified criteria if it is to earn the ENERGY STAR. To certify a lamp for ENERGY STAR, first determine which requirements in this document are applicable to the specific lamp. ENERGY STAR requirements are specific to lamps classified by the program as omnidirectional, directional, or decorative. This specification is generally organized by the requirements, not by lamp type or by light source technology. Partners are advised to review each section, and take note of exceptions where specific performance criteria need not be evaluated. 1. SPECIFICATION SCOPE & LAMP CLASSIFICATION 1.1. Included Products The ENERGY STAR Lamps specification (“this specification”) scope includes the lamp types intended to replace incandescent lamps as outlined in Table 1. The scope of this specification is limited to lamps with: Integrated ballasts and drivers intended to be connected to the electric power grid with the following ANSI standard base types: E26, E26d, E17, E11, E12, G4, G9, GU10, GU24, GU5.3, and GX5.3; and Rated nominal operating voltages of 120, 240 or 277 VAC, or 12 or 24 VAC or VDC. Table 1: Specification Scope and Classification Lamp Purpose and ANSI Standard Non-Standard Lamp Form Factor Performance Description Lamp Shape1 Omnidirectional – Self-ballasted compact fluorescent lamps (CFLs) intended to replace ANSI Lamps intended for general standard incandescent lamps that do not meet Lamp Shape Dimension purpose that meet applicable A, BT, P, PS, S and T requirements. -
1 Potential Influences on the Prospect of Renewable Energy Development in OPEC Members Hanan Alsadi1 1. Introduction the Global
1 Potential Influences on the Prospect of Renewable Energy Development in OPEC Members Hanan Alsadi1 1. Introduction The global energy transitioning trend escalates due to the continuous growth of energy consumption and advancing climate change. While the total fossil fuel consumption is increasing twice as fast as the average rate over the last decade, making 70% of the global energy demand, the reckless use of fossil fuel is causing substantial damage to the environment (International Energy Agency, 2018; Šolc, 2013). An effective fix to the problem while dubious is to replace the energy source by alternatives. The renewable energy (RE) offers the most definite prospect for producing clean, sustainable power in substantial quantities, which arouses interest around the world. According to Gielen and Colleagues (2019), the RE’s share of global consumption energy would rise from 15% in 2015 to 63% in 2050. However, if this increasing trend in renewable energies would also prevail among Organization of Petroleum Exporting Countries (OPEC), is subject to debate. They all have abundant potential to invest in renewable energy sources. Yet, some of the Middle Eastern and Arab Gulf OPEC members do not have or have a small amount of renewable energy sources. In contrast, other members have significant renewable energy sources. Researchers have studied some aspects of renewable energy and its relationship to the OPEC countries. For example, Wittmann (2013) looked at the potential for transitioning from petroleum exportation to renewable energy exportation among the OPEC countries. Still, Wittmann does not explain any specific transition strategies or plans for the Middle Eastern OPEC countries. -
A Holistic Framework for the Study of Interdependence Between Electricity and Gas Sectors
November 2015 A holistic framework for the study of interdependence between electricity and gas sectors OIES PAPER: EL 16 Donna Peng Rahmatallah Poudineh The contents of this paper are the authors’ sole responsibility. They do not necessarily represent the views of the Oxford Institute for Energy Studies or any of its members. Copyright © 2015 Oxford Institute for Energy Studies (Registered Charity, No. 286084) This publication may be reproduced in part for educational or non-profit purposes without special permission from the copyright holder, provided acknowledgment of the source is made. No use of this publication may be made for resale or for any other commercial purpose whatsoever without prior permission in writing from the Oxford Institute for Energy Studies. ISBN 978-1-78467-042-9 A holistic framework for the study of interdependence between electricity and gas sectors i Acknowledgements The authors are thankful to Malcolm Keay, Howard Rogers and Pablo Dueñas for their invaluable comments on the earlier version of this paper. The authors would also like to extend their sincere gratitude to Bassam Fattouh, director of OIES, for his support during this project. A holistic framework for the study of interdependence between electricity and gas sectors ii Contents Acknowledgements .............................................................................................................................. ii Contents ............................................................................................................................................... -
2019 OUTLOOK for ENERGY: 2018 Outlook Fora Energy: PERSPECTIVE a View to 2040 to 2040
2019 OUTLOOK FOR ENERGY: 2018 Outlook forA Energy: PERSPECTIVE A View to 2040 TO 2040 David Khemakhem November 20, 2019 The Outlook for Energy includes Exxon Mobil Corporation’s internal estimates of both historical levels and projections of challenging topics such as energy demand, supply, and trends through 2040 based upon internal data and analyses as well as publicly available information from many external sources including the International Energy Agency. Separate from ExxonMobil’s analysis, we include a number of third party scenarios such as the EMF 27 scenarios and the IEA’s Sustainable Development Scenario. Third-party scenarios discussed in this report reflect the modeling assumptions and outputs of their respective authors, not ExxonMobil, and their use and inclusion herein is not an endorsement by ExxonMobil of their likelihood or probability. Work on the Outlook and report was conducted during 2018 and the first half of 2019. The report contains forward looking statements, including projections, targets, expectations, estimates and assumptions of future behaviors. Actual future conditions and results (including energy demand, energy supply, the growth of energy demand and supply, the impact of new technologies, the relative mix of energy across sources, economic sectors and geographic regions, imports and exports of energy) could differ materially due to changes in economic conditions, the ability to scale new technologies on a cost-effective basis, unexpected technological developments, the development of new supply sources, changes in law or government policy, political events, demographic changes and migration patterns, trade patterns, the development and enforcement of global, regional or national mandates, and other ‹#› factors discussed herein and under the heading “Factors Affecting Future Results” in the Investors section of our website at www.exxonmobil.com. -
All-Of-The-Above Energy Strategy As a Path to Sustainable Economic Growth
THE ALL-OF-THE-ABOVE ENERGY STRATEGY AS A PATH TO SUSTAINABLE ECONOMIC GROWTH Updated: July 2014 **Draft** The All-Of-The-Above Energy Strategy as a Path to Sustainable Economic Growth Executive Summary ............................................................................................................................2 I. Introduction: Elements of the All-of-the-Above Energy Strategy ...............................................5 II. The Energy Revolution and the Economic Recovery .................................................................9 The Energy Revolution in Historical Perspective ...................................................................................... 9 GDP, Jobs, and the Trade Deficit ............................................................................................................. 15 Energy Prices, Households, and Manufacturers ..................................................................................... 18 III. The Energy Revolution and Energy Security: A Macroeconomic Perspective ........................... 20 Trends in Oil Import Prices and Shares ................................................................................................... 21 Macroeconomic Channels of Oil Price Shocks ........................................................................................ 22 Empirical Analysis of Energy Price Shocks .............................................................................................. 24 The changing sensitivity of the U.S. economy to oil price -
What Is ENERGY STAR?
What is ENERGY STAR? • ENERGY STAR is a U.S. voluntary program that helps businesses and individuals save money and protect our climate through superior energy efficiency. 1 Who manages ENERGY STAR? • The U.S. Environmental Protection Agency manages the Energy Star program. • The U.S. Department of Energy develops energy test procedures for products covered by Energy Star and conducts product compliance testing. 2 How did ENERGY STAR start? • In 1992, the US Environmental Protection Agency (EPA) introduced ENERGY STAR as a voluntary labeling program designed to identify and promote energy- efficient products to reduce greenhouse gas emissions. • Computers and monitors were the first labeled products. • Through 1995, EPA expanded the label to additional office equipment products and residential heating and cooling equipment. • In 1996, EPA partnered with the US Department of Energy to cover more product categories. 3 What does ENERGY STAR cover? • The ENERGY STAR label is now on major appliances, office equipment, lighting, home electronics, new homes and commercial and industrial buildings and manufacturing plants. 4 What has ENERGY STAR Accomplished? • Through its partnerships with 18,000 private and public sector organizations, has successfully delivered energy and cost savings across the country, saving businesses, organizations, and consumers $24 billion in 2012 alone. • Over the past two decades, ENERGY STAR has been a driving force behind the more widespread use of such technological innovations as efficient fluorescent lighting, power management systems for office equipment, and low standby energy use. 5 Greenhouse Gas Savings Over Time 6 How does it work? -Products • EPA evaluates products sold in the US market. -
Chapter 1: Energy Challenges September 2015 1 Energy Challenges
QUADRENNIAL TECHNOLOGY REVIEW AN ASSESSMENT OF ENERGY TECHNOLOGIES AND RESEARCH OPPORTUNITIES Chapter 1: Energy Challenges September 2015 1 Energy Challenges Energy is the Engine of the U.S. Economy Quadrennial Technology Review 1 1 Energy Challenges 1.1 Introduction The United States’ energy system, vast in size and increasingly complex, is the engine of the economy. The national energy enterprise has served us well, driving unprecedented economic growth and prosperity and supporting our national security. The U.S. energy system is entering a period of unprecedented change; new technologies, new requirements, and new vulnerabilities are transforming the system. The challenge is to transition to energy systems and technologies that simultaneously address the nation’s most fundamental needs—energy security, economic competitiveness, and environmental responsibility—while providing better energy services. Emerging advanced energy technologies can do much to address these challenges, but further improvements in cost and performance are important.1 Carefully targeted research, development, demonstration, and deployment (RDD&D) are essential to achieving these improvements and enabling us to meet our nation’s energy objectives. This report, the 2015 Quadrennial Technology Review (QTR 2015), examines science and technology RDD&D opportunities across the entire U.S. energy system. It focuses primarily on technologies with commercialization potential in the mid-term and beyond. It frames various tradeoffs that all energy technologies must balance, across such dimensions as diversity and security of supply, cost, environmental impacts, reliability, land use, and materials use. Finally, it provides data and analysis on RDD&D pathways to assist decision makers as they set priorities, subject to budget constraints, to develop more secure, affordable, and sustainable energy services. -
Harmonizing States' Energy Utility Regulation Frameworks and Climate Laws: a Case Study of New York
FINAL 11/15/20 © COPYRIGHT 2020 BY THE ENERGY BAR ASSOCIATION HARMONIZING STATES’ ENERGY UTILITY REGULATION FRAMEWORKS AND CLIMATE LAWS: A CASE STUDY OF NEW YORK Justin Gundlach and Elizabeth B. Stein*. Synopsis: Several states have recently passed legislation mandating ambi- tious levels of economy-wide greenhouse gas emissions reductions. Maine and New Jersey have each adopted “80 x 50” mandates, meaning that they set 2050 as the deadline for reducing annual emissions by 80% from their level in a benchmark year. Colorado’s mandate calls for a 90% reduction by 2050. California adopted a 40% by 2030 mandate in 2006 (later supplemented by executive orders directing state agencies to aim for “80 x 50” and then net-zero emissions by 2045). New York has adopted the goal of net-zero emissions by 2050, with an underlying an- nual emission reduction mandate of at least 85% below 1990 levels. Massachu- setts resembles New York, but its 2008 legislative mandate both called for an 80% reduction by 2050 and authorized updates by the Secretary of State, who in April 2020 announced a net-zero target for 2050 and mandated a reduction in annual emissions to at least 85% below 1990 levels. More state mandates are likely to be adopted in the coming years by legislatures across the country. While the laws establishing these state mandates authorize agencies to adopt new regulations and, in some cases, create ways to challenge inconsistent agency action, they do not spell out what to do about existing laws that require, authorize, or subsidize the development and use of infrastructure designed to enable the consumption of fossil fuels. -
T O M O R R O W 2 0
2015 TOMORROW Table of Contents The American Petroleum Institute Our Energy Tomorrow .............................................................. 2 Jack Gerard, The American Petroleum Institute The American Petroleum Institute (API) is a America’s Petroleum Renaissance ................................................... 5 national trade association that represents The American Petroleum Institute all segments of America’s innovation-driven oil and natural gas industry. Its more than Nuclear Energy Reliably Powers America ............................................. 9 The Nuclear Energy Institute 600 members — including large integrated companies, exploration and production, Hydropower | A Wave of Potential for a Renewable Energy Future ...................... 13 refining, marketing, pipeline, marine shipping The National Hydropower Association and support businesses, and service and Solar Energy in America Shines Bright .............................................. 17 supply firms — provide most of the nation’s The Solar Energy Industries Association energy and are backed by a growing Geothermal Power | Renewable Energy from the Earth’s Warmth ...................... 21 grassroots movement of more than 27 million The Geothermal Energy Association Americans. The industry also supports 9.8 million U.S. jobs and 8 percent of the U.S. Special Section | Infrastructure — The Essential Link to a Secure Energy Future ........ 25 economy, delivers $85 million a day in Natural Gas | America’s Abundant, Clean Energy ..................................... 29 revenue to our government1 and, since The American Petroleum Institute 2000, has invested more than $3 trillion The Attributes of Wind Energy are Adding Up ........................................ 33 in U.S. capital projects to advance all The American Wind Energy Association 2 forms of energy. Electricity from Coal is a Vital, But Threatened, Energy Source ......................... 37 The American Coalition for Clean Coal Electricity Biomass Power | Ready, Proven and Cost-Effective Energy ........................... -
ENERGY STAR Program Requirements for Computers
® ENERGY STAR Program Requirements for Computers Partner Commitments Following are the terms of the ENERGY STAR Partnership Agreement as it pertains to the manufacture and labeling of ENERGY STAR qualified products. The ENERGY STAR Partner must adhere to the following partner commitments: Qualifying Products 1. Comply with current ENERGY STAR Eligibility Criteria, which define performance requirements and test procedures for Computers. A list of eligible products and their corresponding Eligibility Criteria can be found at www.energystar.gov/specifications. 2. Prior to associating the ENERGY STAR name or mark with any product, obtain written certification of ENERGY STAR qualification from a Certification Body recognized by EPA for Computers. As part of this certification process, products must be tested in a laboratory recognized by EPA to perform Computer testing. A list of EPA-recognized laboratories and certification bodies can be found at www.energystar.gov/testingandverification. Using the ENERGY STAR Name and Marks 3. Comply with current ENERGY STAR Identity Guidelines, which define how the ENERGY STAR name and marks may be used. Partner is responsible for adhering to these guidelines and ensuring that its authorized representatives, such as advertising agencies, dealers, and distributors, are also in compliance. The ENERGY STAR Identity Guidelines are available at www.energystar.gov/logouse. 4. Use the ENERGY STAR name and marks only in association with qualified products. Partner may not refer to itself as an ENERGY STAR Partner unless at least one product is qualified and offered for sale in the U.S and/or ENERGY STAR partner countries. 5. Provide clear and consistent labeling of ENERGY STAR qualified Computers.