Tag: oil/petroleum
US energy-related carbon dioxide emissions expected to fall in 2017 but rise in 2018
Non-carbon electricity generation (primarily hydro power) to decline by 5 billion kWh Energy-related carbon dioxide (CO2) emissions fell in both 2015 and 2016, and they are expected to fall again in 2017, based on forecasts in EIA’s Short-Term Energy Outlook. However, EIA forecasts a 2.2 per cent increase in energy-related CO2 emissions in 2018. An annual […]
US household gasoline spending expected to remain below $2,000 in 2017
Lower gasoline prices contributed to decreasing gasoline expenditures since 2012 The average U.S. household expenditure on gasoline in 2017 is expected to total $1,977, or approximately 2.4 per cent of mean incomes of households, according to projections in EIA’s most recent Short-Term Energy Outlook (STEO). The most recent peak for gasoline expenditures was $2,715, or 4.0 per […]
Changing quality mix affecting crude oil price differentials and refining decisions
Gulf Coast refineries in U.S. typically supplied with heavy Mexican, South American crude Growth in global liquid fuels supply since March 2017 has been driven by increases in the production of historically higher-priced light crude oils, according to the U.S. Energy Information Administration. This growth has more than offset recent declines in the production of […]
Hurricane Harvey headed for Gulf of Mexico region with significant oil/gas infrastructure
Texas Gulf Coast home to nearly one-third of U.S. refining capacity Hurricane Harvey strengthened to a Category 1 hurricane Thursday afternoon and is currently forecast to make landfall over southeast Texas later today or early Saturday, according to the U.S. Energy Information Administration. The National Oceanic and Atmospheric Administration (NOAA) expects Hurricane Harvey to continue to […]
Danish and Turkish Straits critical to Europe’s crude oil, petroleum trade
2.4 million b/d of crude oil, petroleum products flowed through Turkish Straits in 2016 The Danish Straits and Turkish Straits – together transited by a combined volume of more than 5 million barrels per day (b/d) in 2016 – are important chokepoints for Europe’s crude oil and petroleum liquids supply, according to the US Energy […]
Maritime chokepoints are critical to global oil security
Ships transiting Panama and Suez canals subject to depth, width restrictions Chokepoints are narrow channels along widely used global sea routes for oil transport, with some so narrow that restrictions are placed on the size of the vessel that can navigate through them, according to the U.S. Energy Information Administration’s 2017 World Oil Transit Chokepoints report. The […]
Brent, WTI crude oil prices to average $50 per barrel through 2018
Without further OPEC agreement, EIA expects lower prices in 2018 than forecast Brent crude oil spot prices to average $51/b in 2017 and $52/b in 2018. West Texas Intermediate (WTI) crude oil prices are expected to be $2/b lower than Brent prices in 2017 and 2018, according to the U.S. Energy Information Administration. Daily and […]
U.S. petroleum refinery capacity continues to increase
U.S. crude oil production 0.5 million b/d lower in 2016 than 2015 As of Jan. 1, 2017, U.S. operable atmospheric crude distillation capacity reached 18.6 million barrels per calendar day (b/cd), 1.6 per cent higher than at the beginning of 2016, according to EIA’s annual Refinery Capacity Report. This increase in operable capacity was slightly lower than last […]
Energy prices declined more than any other commodity in first half of 2017
Natural gas prices largely affected by U.S. increasing exports, flat production The energy component of the Standard and Poor’s Goldman Sachs Commodity Index (GSCI) fell 11 per cent during the first half of 2017, the largest decline for any commodity group in the index, according to the U.S. Energy Information Administration. Other components of the index—livestock, industrial […]
Fossil fuels dominate US energy mix even as renewables increase
Petroleum is largest source of US energy consumption, which has increased in each of the past 4 years Fossil fuels have provided more than 80 per cent of total U.S. energy consumption for more than 100 years, according to the U.S. Energy Information Administration. Since 1928, when consumption of natural gas surpassed that of biomass, […]
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