Today in Energy – US Energy Information Administration (EIA)

Brief analysis

Oct 8, 2024

According to our Hourly Electric Grid Monitor, natural gas-fired power plants in the United States generated more than 7 million megawatt-hours (MWh) of electricity on August 2, 2024, accounting for nearly half of the electricity generated that day in the contiguous United States.

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Brief analysis

Oct 7, 2024

Biofuels account for an increasing share of total distillate heating oil consumption in the United States. From September 2024 Short-term energy outlook (STEO), we have begun publishing forecasts for several new series that help better understand biofuel consumption and overall demand for distillate fuel oil, a classification of petroleum products that includes diesel, fuel oil and heating oil.

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In-depth analysis

Oct 4, 2024

We expect distilled fuel oil consumption to increase in the fall as diesel-powered agricultural equipment is used to harvest and transport crops. The harvest typically peaks in mid-October and lasts until November, when the start of the winter heating season also drives demand for distilled heating oil. Given early indications that the 2024 harvest is likely to occur on schedule or slightly ahead of schedule, we expect distillate demand in 2024 to generally follow the five-year average.

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In-depth analysis

Oct 3, 2024

In the United States, electricity consumption is growing fastest in Texas, where the Electric Reliability Council of Texas (ERCOT) manages 90% of the load on the state’s electric grid. One of the main sources of growing electricity demand is large computing facilities such as data centers and cryptocurrency mining operations, but their future needs are uncertain. In our latest Short-term energy outlook (STEO), we expect electricity demand from customers identified by ERCOT as Large Flexible Load (LFL) to total 54 billion kilowatt hours (kWh) in 2025, an increase of nearly 60% over expected demand in 2025 Year 2024 represents 10% of the total projected electricity consumption on the ERCOT grid next year.

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Brief analysis

Oct 2, 2024

Data source: US Energy Information Administration, hourly power grid monitor

In August 2024, utility-scale solar power generation in the lower 48 states averaged 63.1 gigawatt-hours daily between 10 a.m. and 6 p.m., up 36% from the same hours in August 2023. Solar power generation capacity additions exceeded The pace of additional resources in the U.S. power sector will be utilized in 2023, and we expect this trend to continue through the end of 2024.

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Brief analysis

Oct 1, 2024

Data source: US Energy Information Administration

Last month, Constellation Energy announced a 20-year power purchase agreement (PPA) to supply Microsoft data centers in the Mid-Atlantic region with power from Unit 1 at the Three Mile Island Nuclear Power Plant in Pennsylvania.

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Brief analysis

September 30, 2024

Data source: Advanced Resources International, Inc.

China is a major pipeline importer of natural gas and the world’s largest importer of liquefied natural gas (LNG). Over the past decade, the Chinese government has actively supported the development of unconventional natural gas resources to reduce import dependence and increase energy security.

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Brief analysis

September 26, 2024

Hurricane Helene was expected to make landfall in the eastern part of the Florida Panhandle as a Category 3 hurricane at 8 a.m. Eastern time on September 26 late Thursday, with sustained winds of 115 mph, which could cause significant disruption Energy infrastructure. Hurricane Helene is the strongest hurricane to hit the United States this hurricane season. The other three named storms that made landfall so far this hurricane season (Beryl, Debby and Francine) were either Category 1 or 2 hurricanes.

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Brief analysis

September 25, 2024

In the first six months of 2024, net U.S. natural gas exports (exports minus imports) averaged 12.6 billion cubic feet per day (Bcf/d), up 1% (0.1 Bcf/d) from the same period of 2024 last year and 2% (0.3 Bcf/d) less than in 2023, according to our Natural gas monthly. Since 2019, increasing liquefied natural gas (LNG) exports and pipeline exports to Mexico led to growth in U.S. natural gas exports. The United States has exported more natural gas than it has imported since 2017.

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Brief analysis

September 24, 2024

Data source: US Energy Information Administration, International Energy Agency and Facts Global Energy

The United States is the world’s largest exporter of motor gasoline (finished gasoline plus gasoline blending components), supplying over 16% of total global exports. U.S. motor gasoline exports averaged 900,000 barrels per day (b/d) in 2023, about 10% of domestic consumption and enough to fill the tanks of over 1.5 million SUVs per day, assuming one average tank size is 24 gallons. Other major gasoline exporters, including Singapore and the Netherlands, have never exported more than 700,000 b/d of gasoline. China and India have significantly expanded their refining capacity since 2010 and also increased gasoline exports.

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Brief analysis

September 23, 2024

Data source: Evaluate energy

Financial results from 36 publicly traded U.S. oil exploration and production (E&P) companies show that cash flow from operations declined in real terms in the first quarter of 2024 compared to the first quarter of 2023 due to lower natural gas prices.

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In-depth analysis

September 19, 2024

Data source: US Energy Information Administration

The EIA does not directly record petroleum consumption. Instead, we calculate a similar concept called Product delivered from our surveys of the US petroleum industry. Although we use petroleum products that are interchangeable with petroleum consumption, the two are not the same.

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Brief analysis

September 18, 2024

Data source: Bloomberg LP
Note: To calculate the crack spread, we subtract the average spot price of Brent crude oil from the spot price of jet fuel in Los Angeles.

According to our data, in 29 of 35 weeks so far in 2024, there was more jet fuel in inventory on the West Coast of the United States than in the previous five years Weekly Petroleum Status Report (WPSR). High inventory levels helped reduce Los Angeles area jet fuel crack spreads to an average of 5 cents per gallon in August, lower than at any time in the past five years, including during the COVID-19 outbreak. Pandemic in 2020. Crack spreads represent the price difference between products and crude oil and can be used to determine the relative value of different petroleum products for production by refineries.

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Brief analysis

September 17, 2024

The heat content of dry natural gas delivered in Texas, which consumes the largest amount of natural gas in the United States, was among the lowest in the country in 2023, averaging 1,018 British thermal units per cubic foot (Btu/cf), a decrease of 1.7% the national average (1,036 Btu/cf), according to our Natural gas monthly.

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Brief analysis

September 16, 2024

We recently implemented a new model to forecast crude oil and natural gas production from the U.S. Gulf of Mexico (GOM). Short-term energy outlook (STEO). In our latest outlook, we forecast GOM production to remain relatively flat, with new fields offsetting natural production declines from existing fields.

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