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Oil Market Report - February 2021
The IEA Oil Market Report (OMR) is one of the world's most authoritative and timely sources of data, forecasts and analysis on the global oil market – including detailed statistics and commentary on oil supply, demand, inventories, prices and refining activity, as well as oil trade for IEA and selected non-IEA countries. Highlights World oil demand is set to grow by 5.4 mb/d in 2021 to reach 96.4 mb/d, recovering around 60% of the volume lost to the pandemic in 2020. While oil demand is expected to fall by 1 mb/d in 1Q21 from…
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The Potential of Behavioural Interventions for Optimising Energy Use at Home
…behaviour and encourage investments in structural improvements. This article focuses on the potential for enhancing energy efficiency with policies and programmes designed to educate consumers and encourage them to alter their daily habits – without resorting to large-scale structural improvements. This focus is motivated by the observation that interventions aimed at promoting behavioural change are often cheaper to implement relative to policies that seek to encourage investment. Such measures also tend to be relatively quick to design and implement. What are behavioural interventions and how can behavioural insights enhance the impact of energy efficiency policy? Behavioural interventions are policies and…
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Fuel economy in Canada
…between 2016 and 2017. Since this hiccup in fuel consumption improvements, Canada is back on track with fuel consumption decreasing on average by 1.6% per year between 2017 and 2019. Despite expanding shares of SUV/pick-ups putting upwards pressure on fuel consumption, a growing share of fuel efficient powertrains has allowed for fuel economy improvements. Between 2017 and 2019, the sales share of hybrids increased from 1.3% to 2.2%, along with shares of electric vehicles growing from 0.5% to 1.9% and plug-ins increasing from 0.5% to 1.0% during this time. Additionally…
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Canada Climate Resilience Policy Indicator
…is already affecting energy demand, reducing the number of heating degree days (HDDs) and increasing the number of cooling degree days (CDDs). Extensive heat could raise electricity costs in the summer and energy demand for air conditioning, especially in the provinces of Quebec and Ontario, where felt temperatures can reach 35°C. Given that some regions (e.g. Ontario) are already experiencing their peak energy demand in the summer, additional electricity consumption for cooling is likely to put pressure on the power grid.More extreme hot days could also escalate the risk of wildfires, which can threaten energy supply security by…