5 years ago
The biggest change in global fuel regulations since leaded gas went away could cause price shocks
Tens of thousands of ships sailing the world's oceans currently burn more than 3 million barrels a day of a high sulfur, sludge-like fuel, but starting next year the shipping industry will have to comply with rules to dramatically reduce sulfur emissions. The change, mandated by the United Nations International Maritime Organization (IMO), is significant. The industry now burns fuels with a sulfur content of as high as 3.5 percent and will have to cut back to 0.5 percent.
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