Today in Energy
U.S. wind generation sets new daily and hourly records at end of 2020
In the final months of 2020, electricity generation from wind turbines in the United States set daily and hourly records. Hourly data collected in the U.S. Energy Information Administration’s (EIA) Hourly Electric Grid Monitor show an hourly record set late in the day on December 22 and a...
Natural gas production far exceeded consumption in West Virginia in 2019
In West Virginia in 2019, 5.9 billion cubic feet per day (Bcf/d) of marketed natural gas was produced and 0.6 Bcf/d was consumed. No other state had a higher ratio of natural gas production to consumption in 2019. West Virginia’s natural gas production ranked 6th out of the 50 states in 2019...
EIA estimates that global petroleum liquids consumption dropped 9% in 2020
Responses to the coronavirus disease (COVID-19) caused global demand for petroleum products to fall significantly in 2020. The U.S. Energy Information Administration (EIA) estimates that the world consumed 92.2 million barrels per day (b/d) of petroleum and other liquid fuels in 2020, a 9% decline...
U.S. wind energy production tax credit extended through 2021
The timing and magnitude of wind turbine installations in the United States are often driven by tax incentives. The U.S. production tax credit (PTC), a per-kilowatthour (kWh) credit for electricity generated by eligible renewable sources, was first enacted in 1992 and has been extended and modified...
Six states accounted for more than half of U.S. jet fuel consumption in 2019
In 2019, more than half of the jet fuel consumed in the United States was consumed in California, Texas, Florida, New York, Illinois, and Georgia, according to the U.S. Energy Information Administration’s (EIA) State Energy Data System. These states are home to many of the nation’s...
EIA expects gasoline and diesel prices to increase as U.S. economy recovers
National average motor gasoline and diesel prices in 2020 were the lowest since 2016: $2.17 per gallon (gal) for gasoline and $2.55/gal for diesel, according to the U.S. Energy Information Administration’s (EIA) Gasoline and Diesel Fuel Update. EIA expects that economic recovery and greater...
In 2019, oil and lease condensate proved reserves were flat; natural gas reserves declined
In 2019, proved U.S. reserves of crude oil and lease condensate increased by 0.1%, and proved natural gas reserves declined by 1.9%, according to the U.S. Energy Information Administration’s (EIA) recently released Proved Reserves of Crude Oil and Natural Gas in the United States, Year-End...
EIA expects crude oil prices to average near $50 per barrel through 2022
In its January Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) expects global demand for petroleum liquids will be greater than global supply in 2021, especially during the first quarter, leading to inventory draws. As a result, EIA expects the price of Brent crude...
EIA forecasts less power generation from natural gas as a result of rising fuel costs
In its latest Short–Term Energy Outlook (STEO), released on January 12, the U.S. Energy Information Administration (EIA) forecasts that generation from natural gas–fired power plants in the U.S. electric power sector will decline by about 8% in 2021. This decline would be the first annual decline in...
Fossil fuel production expected to increase through 2022 but remain below 2019 peak
In 2020, fossil fuel production in the United States declined by an estimated 6% from the 2019 record high of 81.3 quadrillion British thermal units (Btu). Based on forecasts in the U.S. Energy Information Administration’s (EIA) January 2021 Short-Term Energy Outlook (STEO), EIA expects total...
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