Pennsylvania’s natural gas production continues to increase

Pennsylvania’s marketed natural gas production averaged a record 15 billion cubic feet per day (Bcf/d) in 2017, 3% higher than the 2016 level. This production is largely from shale plays in the Appalachian Basin. Pennsylvania accounted for 19% of total U.S. marketed natural gas production in 2017 and produced more natural gas than any other state except Texas.

Pennsylvania’s natural gas production continues to increase

Pennsylvania�s marketed natural gas production averaged a record 15 billion cubic feet per day (Bcf/d) in 2017, 3% higher than the 2016 level. This production is largely from shale plays in the Appalachian Basin. Pennsylvania accounted for 19% of total U.S. marketed natural gas production in 2017 and produced more natural gas than any other state except Texas.

Customer spending on electricity expected to increase this summer

EIA’s Short-Term Energy Outlook forecasts the typical U.S. household will spend an average of $426 for electricity this summer (June–August), an increase of about 3% from the average summer expenditures in 2017. The expected increase in electricity bills is a result of forecast higher retail electricity prices and slightly higher projected electricity use to meet increased cooling demand.

U.S. natural gas production and consumption increase in nearly all AEO2018 cases

EIA’s Annual Energy Outlook 2018 (AEO2018) projects that U.S. dry natural gas production will increase through 2050 across a wide variety of alternative assumptions about the future. In the Reference case, which is based on current laws and regulations, production grows 59% from 2017 to 2050, starting at 73.6 billion cubic feet per day (Bcf/d) in 2017 and reaching 118 Bcf/d in 2050.

Natural gas inventories end heating season at the lowest level since 2014

Working natural gas in storage in the United States as of March 31, 2018, the end of the 2017-2018 heating season, totaled 1,351 billion cubic feet (Bcf), according to EIA’s estimate based on its Weekly Natural Gas Storage Report. This is the lowest level for U.S. working gas stocks at this time of year since March 31, 2014, when working gas stocks were much lower, at 837 Bcf following the 2013-2014 heating season.

Summer gasoline prices expected to be highest in four years

EIA forecasts that drivers in the United States will pay an average of $2.74 per gallon (gal) this summer for regular gasoline, the highest average summer gasoline price in four years, according to EIA’s Short-Term Energy and Summer Fuels Outlook. EIA’…

U.S. Gulf of Mexico crude oil production to continue at record highs through 2019

U.S. crude oil production in the Federal Gulf of Mexico (GOM) increased slightly in 2017, reaching 1.65 million b/d, the highest annual level on record. Although briefly hindered by platform outages and pipeline issues in December 2017, oil production in the GOM is expected to continue increasing in 2018 and 2019, based on forecasts in the EIA’s latest Short-Term Energy Outlook (STEO). EIA expects the GOM to account for 16% of total U.S. crude oil production in each year.

EIA projects that U.S. coal demand will remain flat for several decades

EIA projects U.S. coal disposition—domestic demand and coal exports—to remain relatively flat through 2050 in the Annual Energy Outlook 2018 (AEO2018) Reference case, even as many coal-fired power plants are retired. Coal disposition for the next three decades averages 750 million short tons per year (MMst), down from the peak of nearly 1.2 million tons in 2008.

Electricity generation from fossil fuels declined in 2017 as renewable generation rose

According to EIA’s Electric Power Monthly, total U.S. net electricity generation fell slightly (down 1.5%) in 2017, reflecting lower electricity demand. Natural gas and coal generation fell by 7.7% and 2.5% from 2016, respectively, as generation from several renewable fuels, particularly hydro, wind, and solar, increased from 2016 levels.

Solar plants typically install more panel capacity relative to their inverter capacity

A solar photovoltaic (PV) system’s panel capacity is often reported in direct current (DC), while operating capacity in the United States is reported as it is delivered to the grid in alternating current (AC). For economic and engineering reasons, capacity values reported in DC typically are 10% to 30% higher than those reported in AC capacity.

The value of U.S. energy exports to Mexico exceeded import value for third year in a row

In each of the past three years, the value of U.S. energy exports to Mexico has exceeded the value of U.S. energy imports from Mexico. Energy trade between Mexico and the United States has historically been driven by Mexico�s sales of crude oil to the United States and by U.S. exports of refined petroleum products to Mexico. As the United States has reduced crude oil imports from Mexico, the trade balance has shifted.

S&P 500 implied volatility briefly surpassed that of crude oil in February

For four consecutive days in early February, stock market implied volatility surpassed crude oil price volatility for the first time since 2008. The VIX, a measure of implied volatility, or the market’s expected range of near-term price changes on Standard and Poor’s (S&P) 500 index options, closed higher than the OVX, a measure of implied volatility on crude oil options.

Investment in tight oil, oil sands, and deepwater drives long-term oil production growth

Upstream investment in crude oil and liquids production is highly sensitive to crude oil prices, particularly production of higher-cost resources from tight rock formations, oil sands, and offshore deepwater. In EIA’s “International Energy Outlook 2017” (IEO2017) Reference case, increasing crude oil prices lead to more investment, driving production growth in these higher-cost resources.

West Coast jet fuel imports increase to meet growing demand

Net imports of jet fuel into the West Coast have increased in recent years as regional jet fuel consumption has outpaced production. States in the West Coast region—those bordering the Pacific Ocean plus Nevada and Arizona—make up about 20% of the U.S. population but account for nearly a third of U.S. jet fuel consumption. Most of these jet fuel imports have come from refineries in Asia.

U.S. imports of solar photovoltaic modules mainly come from Asia

Solar photovoltaic (PV) module imports into the United States have increased significantly in recent years and represent a sizable portion of installed solar capacity. In 2016, U.S. imports of solar modules measured in direct current (DC) totaled 13 gigawatts (GWDC)—up from 2 GWDC in 2010—with two-thirds of 2016 imports coming from Malaysia, China, and South Korea.

1 2 3 7