On Tuesday, November 23, the White House announced plans to make 50 million barrels of crude oil available to the market through a combination of exchanges and accelerating previously announced sales. With these sales and several other legislated drawdowns, SPR inventories could decline from 618 million barrels (as of October 1, 2021) to about 314 […]
Category: Today in Energy
Average U.S. gasoline prices are higher this Thanksgiving than any since 2012
The average price that consumers paid at the pump for U.S. regular gasoline on the Monday before Thanksgiving this year was $3.40 per gallon (gal). This price is $1.29/gal (62%) higher than last year and is the highest pre-Thanksgiving price since 2012 (in nominal terms), according to our latest Gasoline and Diesel Fuel Update. U.S. […]
Major U.S. utilities spending more on electricity delivery, less on power production
Over the past decade, major utilities in the United States have been spending more on delivering electricity to customers and less on producing that electricity. […]
Most planned U.S. natural gas-fired plants near Appalachia, Florida, and Texas
Between 2022 and 2025, 27.3 gigawatts (GW) of new natural gas-fired capacity is scheduled to come online in the United States, according to our latest . This added capacity would increase current capacity (489.1 GW as of August 2021) by 6%. Many of the planned natural gas-fired capacity additions are located close to major shale […]
EIA expands data coverage of biofuels in our Monthly Energy Review
In October 2021, we began publishing expanded data on biofuels other than ethanol in our (MER), including production, imports, feedstocks, and consumption. The expanded biofuels data provide a more detailed look at fuels previously grouped under renewable fuels except ethanol, which is now split into biodiesel, renewable diesel, and other biofuels. […]
EIA forecasts crude oil prices will decline during 2022
Since the third quarter of 2020, global consumption of crude oil and petroleum products has increased faster than production, which has caused lower inventory levels and higher crude oil prices. In our November Short-Term Energy Outlook (STEO), we forecast that rising production from OPEC+ countries and the United States will lead to global liquid fuels […]
New natural gas pipeline capacity expands access to export and Northeast markets
In our recently updated Natural Gas Pipeline Projects Tracker, we estimate over 4 billion cubic feet per day (Bcf/d) of new natural gas pipeline capacity entered service in the third quarter of 2021, primarily supplying Gulf Coast and Northeast demand markets. […]
Solar generation was 3% of U.S. electricity in 2020, but we project it will be 20% by 2050
According to our Electric Power Annual, solar power accounted for 3% of U.S. electricity generation from all sources in 2020. In our Short-Term Energy Outlook, we forecast that solar will account for 4% of U.S. electricity generation in 2021 and 5% in 2022. In our Annual Energy Outlook 2021 (AEO2021) Reference case, which assumes no […]
U.S. natural gas in storage in early November is 3% below the recent average
As we enter winter, working natural gas in underground storage facilities in the Lower 48 states measured 3,618 billion cubic feet (Bcf) on November 5, according to our Weekly Natural Gas Storage Report released on November 10. The amount of natural gas in storage has been below its previous five-year average since mid-February of this […]
U.S. electricity customers experienced eight hours of power interruptions in 2020
On average, U.S. electricity customers experienced just over eight hours of electric power interruptions in 2020, the most since we began collecting electricity reliability data in 2013. […]
