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Rise in relatively denser crude oil production drives U.S. growth

Crude oil production in the United States reached a record high in August 2023, led primarily by more production in Texas. In 2023, most of the crude oil produced in Texas was relatively dense for the state. Read More...

Fewer markets are importing Russia’s coal

Russia’s reliance on four, mainly Asian, countries to import its coal has increased since some countries implemented sanctions against Russia after it invaded Ukraine, according to Global Trade Tracker data. This trade shift corresponds with increased coal exports from the United States to Europe...

In most U.S. regions, 2024 wholesale electricity prices will be similar to 2023

We expect average wholesale electricity prices for 2024 in most areas of the country to be close to or slightly lower than in 2023 because of relatively stable generation fuel costs. However, periods of high demand or power market supply constraints could lead to temporary spikes in wholesale...

EIA expects average U.S. gasoline and diesel prices to decrease in 2024 and 2025

In our January Short-Term Energy Outlook (STEO), we expect average U.S. retail gasoline prices to decrease in 2024 because of increased inventories related to increased refinery capacity. In 2025, we expect slightly reduced gasoline consumption to further decrease prices. We expect similar...

Solar and wind to lead growth of U.S. power generation for the next two years

In our latest Short-Term Energy Outlook, we forecast that wind and solar energy will lead growth in U.S. power generation for the next two years. As a result of new solar projects coming on line this year, we forecast that U.S. solar power generation will grow 75% from 163 billion kilowatthours...

We expect Henry Hub natural gas spot price to average under $3.00/MMBtu in 2024 and 2025

We expect the U.S. benchmark natural gas spot price at the Henry Hub to average under $3.00 per million British thermal units (MMBtu) in 2024 and 2025 in our January Short-Term Energy Outlook (STEO). The annual average Henry Hub prices in 2024 and 2025 increase from 2023 in our forecast because we...

EIA expects relatively flat crude oil prices in 2024 and 2025

We forecast average annual crude oil prices in 2024 and 2025 will remain near their 2023 average because we expect that global supply and demand for petroleum liquids will be relatively balanced over the next two years. We expect the Brent crude oil price will average $82 per barrel (b) in 2024 and...

We expect solar will supply almost all growth in U.S. electricity generation through 2025

We expect solar electric generation will be the leading source of growth in the U.S. electric power sector. In our January Short-Term Energy Outlook (STEO), which contains new forecast data through December 2025, we forecast new capacity will boost the solar share of total generation to 5.6% in 2024...

U.S. battery storage capacity expected to nearly double in 2024

U.S. battery storage capacity has been growing since 2021 and could increase by 89% by the end of 2024 if developers bring all of the energy storage systems they have planned on line by their intended commercial operation dates. Developers currently plan to expand U.S. battery capacity to more than...

Canada’s Trans Mountain Pipeline expansion reportedly 95% complete

Work on Canada’s Trans Mountain Pipeline expansion project is reportedly over 95% complete. When it comes onstream, the expansion will nearly triple the pipeline’s current 300,000 barrels per day (b/d) capacity to move crude oil from oil sands in landlocked Alberta to Canada’s...

CountryMark

Smorch will lead CountryMark as next CEO

The CountryMark Board of Directors recently named Matt Smorch as the new president and chief executive officer following the retirement of Charlie Smith effective January 1, 2020. Read More......

Small Refiner Exemption Protects Jobs without Destruction to Renewable Fuel Demand

As a farmer-owned cooperative, CountryMark serves as a strong advocate and state leader in the marketing of renewable fuels including ethanol and biodiesel blends. Due to disproportionate economic hardship, CountryMark applied for an exemption under the Environmental Protection Agency’s Renewable Fuels Standard (RFS) for 2018 and has notified the EPA of its intent to sue Read More......
Fueling Freedom 2019 Results

Fueling Freedom 2019 Results

CountryMark Fueling Freedom events raise more than $57,000 for local military families! CountryMark’s Fueling Freedom events on June 21 raised more than $57,000 to support local National Guard Family Readiness Groups. Across Indiana, Illinois and Ohio, 37 CountryMark-branded fueling stations participated in Fueling Freedom 2019. For every gallon of fuel pumped, CountryMark and local branded-dealers Read More......

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