SAFE’s Energy Security Fact Pack gives readers a data-driven overview of the latest trends in energy security, including domestic and global oil production and consumption, oil market dynamics and prices, and up-to-date information on fuel efficiency and alternative fuel vehicles.
This edition of the SAFE Energy Security Fact Pack shines a light on the proposed Phase 2 medium- and heavy-duty vehicle fuel economy standards and their potential to generate significant oil and fuel savings for the United States.
While medium- and heavy-duty vehicles comprise only 7 percent of vehicles on the road, they use approximately 30 percent of the energy in the transportation sector. Analysis of the proposed Phase 2 standard for medium- and heavy-duty vehicles suggests that the rule could reduce consumption by 0.77 million barrels per day (mbd) by 2040.
Global oil supply outages remained steady quarter-over-quarter, but have increased in recent months from 3 mbd in April to 3.3 mbd in June, mainly due to outages in Libya and non-OPEC producers. Despite these interruptions, global supply growth continues to outstrip demand, though consumption is increasing, growing by approximately 1.4 mbd year-over-year in Q2.
Download the complete Fact Pack for a complete visual breakdown of these trends and much more, and join the conversation by following @securing_energy and using the hashtag #SAFEenergyfacts.