Northwest U.S. and western Canadian natural gas prices trade at historic lows in 2024
Monthly average natural gas spot prices at northwestern U.S. and western Canada border pricing hubs reached historic lows in 2024 through October, according to data from Natural Gas Intelligence. Robust natural gas production in western Canada, where output has generally increased over the last two years, and high natural gas inventories in the region contributed […]
Grid infrastructure investments drive increase in utility spending over last two decades
Annual spending by major utilities to produce and deliver electricity increased 12% from $287 billion in 2003 to $320 billion in 2023 as measured in real 2023 dollars, according to financial reports to the Federal Energy Regulatory Commission (FERC). Capital investment in electric infrastructure mostly drove the increase, more than doubling over the period as:
Most U.S. petroleum coke is exported
Annual production of U.S. petroleum coke (petcoke) has remained relatively unchanged over the past 10 years (2014-23), averaging 46 million tons according to our analysis of U.S. Census Bureau data. Most U.S. petroleum coke is exported. The United States exported approximately 41 million tons in 2023, slightly more than the 10-year average for total petcoke […]
U.S. associated natural gas production increased nearly 8% in 2023
U.S. production of associated-dissolved natural gas, or associated natural gas, increased 7.9% in 2023 compared with 2022, averaging 17.1 billion cubic feet per day (Bcf/d) last year, according to data from Enverus Drillinginfo. Associated natural gas production, which is natural gas produced by wells that predominantly produce oil, comes mainly from five major oil-producing regions […]
U.S. electricity exports to Canada have increased since September 2023
For the better part of two decades, Canada has exported significantly more electricity to the United States than it imported. However, in the fall of 2023, electricity trade between the two countries became more balanced. The shift was due partly to Canada’s reduced hydropower generation, the country’s primary source of electricity generation, as drought conditions […]
Drought conditions reduce hydropower generation, particularly in the Pacific Northwest
In our latest Short-Term Energy Outlook (STEO), we forecast that electricity generation from U.S. hydropower plants in 2024 will be 13% less than the 10-year average, the least amount of electricity generated from hydropower since 2001. Extreme and exceptional drought conditions have been affecting different parts of the United States, especially the Pacific Northwest, which […]
U.S. fuel ethanol exports rise on strong international demand and low U.S. prices
U.S. fuel ethanol exporters are on track to export a record amount of the fuel in 2024. The increase in exports this year has largely been driven by demand in countries with biofuel blending mandates and cheaper-than-usual U.S. fuel ethanol prices.
U.S. summer nuclear outages declined in 2024, returning to 2022 levels
Average U.S. nuclear capacity outages during the summer of 2024 (June 1 through August 31) decreased to about 2.6 gigawatts (GW) per day from 3.1 GW in 2023, similar to average summer daily outages in 2022. Outages this past summer were highest in mid-July and early August, averaging 3.1 GW per day and peaking at […]
U.S. exports of ethane and ethane-based petrochemicals rose 135% from 2014 to 2023
U.S. exports of ethane and ethane-based petrochemicals reached an all-time high of 21.6 million metric tons (MMmt) in 2023, up 135% since the United States began exporting ethane in 2014 and 17% more than in 2022, according to data from the U.S. Census Bureau. The rapid expansion of U.S. ethane and ethane-based petrochemical exports has […]
Share of natural gas production in U.S. tight oil plays increased over the last decade
Natural gas produced from the three largest tight oil-producing plays in the United States has increased in the last decade. Natural gas comprised 40% of total production from the Bakken, the Eagle Ford, and the Permian compared with 29% in 2014.