First new U.S. nuclear reactor since 2016 is now in operation
A new reactor at Georgia�s Vogtle nuclear power plant is now in commercial operation, according to an announcement from Georgia Power, one of the plant�s owners. It is the first new nuclear reactor to start up in the United States since the Tennessee Valley Authority�s Watts Bar 2 was commissioned in 2016.
Inflation-adjusted U.S. energy spending increased by 25% in 2021
In 2021, the amount U.S. consumers spent on energy (energy expenditures) grew to over $1.3 trillion when adjusted for inflation, a 25% increase from 2020, according to our State Energy Data System (SEDS). Rising petroleum consumption in 2021 following 2020 lows induced by the COVID-19 pandemic and higher average energy prices contributed to the increase […]
Natural gas deliveries to U.S. LNG export facilities set a record in first-half 2023
Natural gas deliveries by pipeline to U.S. liquefied natural gas (LNG) export facilities are called LNG feed gas. LNG feed gas averaged 12.8 billion cubic feet per day (Bcf/d) in the first six months of 2023, following the Freeport LNG terminal’s return to service, according to data by S&P Global Commodity Insights. Over this period, […]
Cooling commercial buildings is six times more energy-intensive in hot climates than cold
The energy intensity for cooling commercial buildings in the United States depends on the climate the building is located in. Energy intensity in buildings is the energy consumed per square foot of floorspace. U.S. commercial buildings in hot or very hot climates, which are primarily in the southernmost parts of the country, were more than […]
Texas power grid met record-breaking demand for electricity during recent heat wave
An extreme heat wave in late June and July led to record-breaking demand for electricity in Texas as homes and businesses turned up their air-conditioning, fans, and other cooling equipment to cope with the heat. Power plants in the Electric Reliability Council of Texas (ERCOT)—the grid operator for most of the state—increased output to meet […]
Refinery capacity increased slightly for the first time since the COVID-19 pandemic
U.S. refining capacity increased slightly for the first time since the COVID-19 pandemic, as of January 1, 2023, reversing two years of decline, according to our annual Refinery Capacity Report. Operable atmospheric crude oil distillation capacity, our primary measure of refinery capacity in the United States, totaled 18.1 million barrels per calendar day (b/cd), a […]
Almost all U.S. renewable diesel is consumed in California; most isn’t made there
California accounts for nearly all renewable diesel consumption in the United States, but most of it isn’t made in the state. More than eight times the renewable diesel was consumed in California than was produced there in 2021. Instead, most of California’s renewable diesel was produced in other states or was imported, mostly from Singapore.
Natural gas prices fall in first half of 2023 amid record production and mild temperatures
The average monthly spot natural gas price at the U.S. benchmark Henry Hub fell 34%, or $1.12 per million British thermal units (MMBtu), to $2.18/MMBtu between January and June, according to data from Refinitiv Eikon. The Henry Hub price averaged $3.30/MMBtu in January on an inflation-adjusted basis and then dropped below $2.50/MMBtu starting in February. […]
EIA forecasts crude oil prices will increase through 2024 as demand rises above supply
We forecast higher crude oil prices in the second half of 2023 and into 2024 in our latest Short-Term Energy Outlook (STEO) because of moderate but persistent inventory drawdowns. Inventory drawdowns take place when demand for a commodity is greater than the supply of that commodity. We expect production cuts from OPEC members and forecast […]
U.S. gasoline inventories are rising, driven by East Coast market dynamics
U.S. gasoline inventories have been rising following a low this year of 216 million barrels (8% below the previous five-year average) on May 26. East Coast (PADD 1) gasoline inventories account for most of the national inventory growth despite refinery unit outages that are limiting regional gasoline production. Relatively high gasoline prices on the East […]