EIA forecasts record U.S. natural gas consumption in 2022
In our September Short-Term Energy Outlook (STEO), we expect natural gas consumption to increase by 3.6 billion cubic feet per day (Bcf/d) in the United States during 2022 to average 86.6 Bcf/d for the year, the most annual U.S. natural gas consumption on record. We forecast that U.S. natural gas consumption will increase in all […]
Carbon intensity of U.S. power generation continues to fall but varies widely by state
From 2016 to 2020, the carbon intensity of U.S. power generation fell 18%, driven by a shift in the U.S. electricity generation mix away from coal and toward natural gas and renewables. The carbon intensity of power generation measures the amount of CO2 emitted to produce a unit of electricity. All but seven U.S. states […]
Distillate stocks in U.S. New England and Central Atlantic states fall to low levels
Distillate fuel oil stocks at refineries, bulk terminals, and natural gas plants in New England states were the lowest in several years as of June 2022, according to our latest Petroleum Supply Monthly (PSM). Among the six states in New England (Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont), distillate stocks ranged from 90% […]
In the first half of 2022, 24% of U.S. electricity generation came from renewable sources
In the first six months of 2022, 24% of U.S. utility-scale electricity generation came from renewable sources, based on data from our Electric Power Monthly. The renewables’ share increased from 21% for the same time period last year. Renewables are the fastest-growing electricity generation source in the United States.
RGGI carbon dioxide emissions price reached new quarterly record in June 2022
The 56th Regional Greenhouse Gas Initiative (RGGI) quarterly auction, held June 1, 2022, resulted in a record-high clearing price of $13.90 per ton for CO2 emissions allowances, surpassing the previous quarter’s clearing price ($13.50 per ton) by 3% and the June 2021 clearing price ($7.97 per ton) by 74%. Allowance prices set in the RGGI […]
OPEC oil export revenues forecast to increase in 2022 but decline in 2023
We forecast that members of OPEC will collectively earn $842 billion in revenues from oil exports in 2022, the most (adjusted for inflation) for the group since 2014. Based on our forecasts of both OPEC liquid fuels production and of crude oil prices in our Short-Term Energy Outlook (STEO), OPEC revenues will be nearly 50% […]
U.S. LNG export capacity to grow as three additional projects begin construction
The United States began exporting liquefied natural gas (LNG) from the U.S. Lower 48 states in February 2016. As of July 2022, the United States has more LNG export capacity than any other country and has exported more LNG than any other country. U.S. LNG exports averaged 11.1 billion cubic feet per day (Bcf/d) during […]
Record numbers of solar panels were shipped in the United States during 2021
U.S. shipments of solar photovoltaic (PV) modules (solar panels) rose to a record electricity-generating capacity of 28.8 million peak kilowatts (kW) in 2021, from 21.8 million peak kW in 2020, based on data from our Annual Photovoltaic Module Shipments Report. Continued demand for U.S. solar capacity drove this increase in solar panel shipments in 2021.
EIA expects U.S. ethane production to grow by 9% in the second half of 2022
Ethane production has been increasing in the United States for the past five years, and it reached a monthly record of 2.5 million barrels per day (b/d) in March. More than 2.4 million b/d of ethane has been produced in the United States every month since then. In our Short-Term Energy Outlook (STEO), we forecast […]
U.S. capacity to convert waste to energy declines after remaining steady since 1994
U.S. waste-to-energy (WTE) electric-generating capacity has recently started to decline after averaging around 2,219 megawatts (MW) for 24 years, according to our June 2022 Preliminary Monthly Electric Generator Inventory. From 2018 to 2022, 188 MW of WTE capacity retired, and another 36 MW is expected to retire by 2027. Low electricity prices, local opposition, and […]