Today in Energy
Global CO2 emissions rise through 2050 in most IEO2023 cases
We project that global energy-related CO2 emissions from consumption of coal, liquid fuels, and natural gas will increase over the next 30 years across most of the cases we analyzed in our International Energy Outlook 2023 (IEO2023). Read More...
Coal generation decreased in 2022, but overall U.S. emissions increased
U.S. coal-related CO2 emissions decreased by 7%, or 68 million metric tons (MMmt), in 2022 relative to 2021. This decrease was largely due to an 8% decline in coal-fired power generation because of retiring coal-fired generating capacity. Changes in electricity generation sources decreased the...
Lower CO2 emissions are partially due to shifts in power generation sources
We forecast the U.S. energy sector to emit about 4,790 million metric tons of carbon dioxide (CO2) in 2023, a 3% decrease from 2022. Much of this decline results from lower electricity generation from coal-fired power plants due to higher generation from renewable sources such as solar power. We...
Electric vehicles and hybrids grow to a record-high 18% of U.S. light-duty vehicle sales
Sales of hybrid, plug-in hybrid, and battery-electric vehicles (BEV) in the United States rose to 17.7% of new light-duty vehicle sales in third-quarter 2023, according to data from Wards Intelligence. Sales of hybrids, plug-in hybrids, and BEVs have accounted for 15.8% of all new light-duty vehicle...
U.S. gasoline prices decline amid lower gasoline demand and falling crude oil prices
On November 20, 2023, the Monday before Thanksgiving, the retail price of regular gasoline averaged $3.29 per gallon (gal) across the United States, 10% less than the same time last year. After adjusting for inflation (real terms), retail gasoline prices this Thanksgiving weekend are 13% lower than...
The Strait of Hormuz is the world’s most important oil transit chokepoint
The Strait of Hormuz, located between Oman and Iran, connects the Persian Gulf with the Gulf of Oman and the Arabian Sea. The Strait of Hormuz is the world’s most important oil chokepoint because large volumes of oil flow through the strait. In 2022, its oil flow averaged 21 million barrels...
Natural gas combined-cycle power plants increased utilization with improved technology
The average utilization rate (or capacity factor) for the entire U.S. fleet of combined-cycle natural gas turbine (CCGT) electric power plants has risen as the operating efficiency of new CCGT units has improved. The CCGT capacity factor rose from 40% in 2008 to 57% in 2022. Increased efficiency...
Less than one-third of U.S. commercial buildings were all-electric in 2018
Fewer than one-third of U.S. commercial buildings were all-electric in 2018, and all-electric commercial buildings were most prevalent in the South, according to data from our Commercial Buildings Energy Consumption Survey (CBECS). As of 2018, 31%, or 1.8 million commercial buildings, were...
Northeast U.S. carbon dioxide emissions prices return to last year’s highs
The most recent auction of carbon dioxide CO2 emissions allowances in the major U.S. northeast regional trading hub reached near record-high prices, as the number of allowances available was reduced. The latest Regional Greenhouse Gas Initiative (RGGI) quarterly auction, held September 6, 2023...
Global natural gas market well supplied for winter, but risks remain, EIA analysis finds
Relatively full natural gas inventories in the United States and Europe and expanded global liquefied natural gas (LNG) export and import capacity have improved the likelihood that global gas supply is sufficient to meet demand in the 2023–24 winter season (November–March), according to our recently...
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