Securing America's Future Energy

Energy Security Fact Pack: Q4 2017

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 advanced fuel vehicles.

The Energy Security Fact Pack for Q4 2017 examines improvements in light-duty fuel economy, how close automakers are to reaching the 200,000 federal EV tax credit threshold, rising investment in autonomous vehicles, and more.

During a time of heightened uncertainty in energy markets, SAFE’s Fact Pack includes the following insights:

  • LDV fuel economy will save up to 2.6 Mbd in the coming decades as current rules boost efficiency over 2016 levels.
  • Roughly 32,000 and 37,000 tax credits remain for GM and Tesla, respectively, as several automakers near the maximum 200,000 federal tax credit threshold for EVs.
  • In H1 2017, tech firms announced $65 billion in AV spending and created 24 new partnerships.
  • U.S. liquids production grew 0.72 Mbd q/q in Q4 2017 to 14.8 Mbd (+1.4 y/y).
  • Gross U.S. crude oil and petroleum product imports fell to 9.7 Mbd in Q4 2017 (-0.2 Mbd y/y). OPEC accounted for roughly 31% of total Q4 U.S. imports.
  • Global oil production increased in Q4 2017 to 98.6 Mbd as OPEC’s cuts were offset by resurgent production elsewhere.
  • Global oil demand grew 1.5 Mbd y/y in Q4 2017, driven by growth in non-OECD countries (+1.4 Mbd y/y).
  • OPEC spare crude oil production capacity was 1.3 Mbd in Q4 2017 (-0.4 Mbd y/y), equivalent to 1.2% of global consumption.
  • China’s passenger vehicle sales increased to 24.7 million units in Q4 2017 (+8% or 1.9 million cars y/y). EV sales in China increased roughly 243,000 units y/y to 581,000 vehicles in 2017 (+71% y/y).
  • New light truck sales in the U.S. averaged 11.7 million units in Q4 2017, increasing by approximately 0.65 million units y/y. Light trucks now account for roughly 66% of new light-duty vehicle sales, a 5.9 percentage point increase y/y.

The full fact pack features data on oil displacement scenarios, oil price volatility, advanced fueling stations, and more.

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