A combination of an extended period of low prices, consumers buying larger vehicles, and strong economic growth has caused demand to soar since it reached its nadir in 2012.
Fuel efficiency standards and the long-term saturation of VMT are key factors that could have a major impact on reducing foreign petroleum dependence in the transportation sector.
Fully autonomous vehicles on roads and highways could virtually eliminate traffic accidents, but it’s uncertain when such a scenario will occur. Right now, the country is in a midst of a crisis from car crashes, as reflected in recent government data showing a sharp rise in fatalities this year.
Smartphones, cell phones, and the Internet aren’t perfect proxies for extrapolating penetration of autonomy, but they can provide a basis for discussion about what might happen with self-driving technology.
A study from a major research group finds that the transition to autonomous cars will bring about a sharp increase in fuel efficiency and hasten the use of alternative energy sources, both of which will slice demand for petroleum.
With global GDP growth having fallen by .3 percentage points last year, it’s clear that low oil prices, which were sustained throughout all of 2015, were the main factor behind the rise in gasoline consumption, the largest growth in 35 years.
New research finds that delivery of goods from online shopping does not cause Americans to drive less, but instead adds to the burden on roads.
U.S. gasoline demand is at near-record highs. With VMT and sales of light duty trucks at their highest points in history and rising at record rates, we could soon be burning more gasoline than ever.