EIA estimates that global petroleum liquids consumption dropped 9% in 2020

Responses to the coronavirus disease (COVID-19) caused global demand for petroleum products to fall significantly in 2020. The U.S. Energy Information Administration (EIA) estimates that the world consumed 92.2 million barrels per day (b/d) of petroleum and other liquid fuels in 2020, a 9% decline from the previous year and the largest decline in EIA's series that dates back to 1980. A supplement to EIA's Short-Term Energy Outlook (STEO) describes developments in global oil consumption during 2020, methods for estimating and forecasting global oil consumption, and expectations for oil consumption in 2021 and 2022. More »

U.S. wind energy production tax credit extended through 2021

The timing and magnitude of wind turbine installations in the United States are often driven by tax incentives. The U.S. production tax credit (PTC), a per-kilowatthour (kWh) credit for electricity generated by eligible renewable sources, was first enacted in 1992 and has been extended and modified in the years since. At the end of December 2020, Congress extended the PTC at 60% of the full credit amount, or $0.018 per kWh ($18 per megawatthour), for another year through December 31, 2021. In 2020, the credit was 60% of the full credit amount. Under the new PTC legislation, qualifying wind projects must begin construction by December 31, 2021. More »

Six states accounted for more than half of U.S. jet fuel consumption in 2019

In 2019, more than half of the jet fuel consumed in the United States was consumed in California, Texas, Florida, New York, Illinois, and Georgia, according to the U.S. Energy Information Administration's (EIA) State Energy Data System. These states are home to many of the nation's busiest airports and headquarters for many of the largest U.S. airlines. The six states are also among the most populous, accounting for about 40% of the U.S. population in 2019. More »

EIA expects gasoline and diesel prices to increase as U.S. economy recovers

National average motor gasoline and diesel prices in 2020 were the lowest since 2016: $2.17 per gallon (gal) for gasoline and $2.55/gal for diesel, according to the U.S. Energy Information Administration's (EIA) Gasoline and Diesel Fuel Update. EIA expects that economic recovery and greater demand for transportation fuels will lead to higher prices for gasoline and diesel in 2021 and 2022. In its latest Short-Term Energy Outlook, EIA expects regular gasoline retail prices to average $2.42/gal in 2021 and $2.43/gal in 2022 and on-highway diesel prices to average $2.71/gal in 2021 and $2.74/gal in 2022. More »

In 2019, oil and lease condensate proved reserves were flat; natural gas reserves declined

In 2019, proved U.S. reserves of crude oil and lease condensate increased by 0.1%, and proved natural gas reserves declined by 1.9%, according to the U.S. Energy Information Administration's (EIA) recently released Proved Reserves of Crude Oil and Natural Gas in the United States, Year-End 2019 report. Proved reserves of oil and natural gas each rose annually in the United States by at least 9% in the previous two years (2017 and 2018). More »

EIA expects crude oil prices to average near $50 per barrel through 2022

In its January Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) expects global demand for petroleum liquids will be greater than global supply in 2021, especially during the first quarter, leading to inventory draws. As a result, EIA expects the price of Brent crude oil to increase from its December 2020 average of $50 per barrel (b) to an average of $56/b in the first quarter of 2021. The Brent price is then expected to average between $51/b and $54/b on a quarterly basis through 2022. More »

EIA forecasts less power generation from natural gas as a result of rising fuel costs

In its latest Short–Term Energy Outlook (STEO), released on January 12, the U.S. Energy Information Administration (EIA) forecasts that generation from natural gas–fired power plants in the U.S. electric power sector will decline by about 8% in 2021. This decline would be the first annual decline in natural gas–fired generation since 2017. Forecast generation from coal–fired power plants will increase by 14% in 2021, after declining by 20% in 2020. EIA forecasts that generation from nonhydropower renewable energy sources, such as solar and wind, will grow by 18% in 2021—the fastest annual growth rate since 2010. More »

Fossil fuel production expected to increase through 2022 but remain below 2019 peak

In 2020, fossil fuel production in the United States declined by an estimated 6% from the 2019 record high of 81.3 quadrillion British thermal units (Btu). Based on forecasts in the U.S. Energy Information Administration's (EIA) January 2021 Short-Term Energy Outlook (STEO), EIA expects total production of fossil fuels in the United States to remain flat in 2021 as increased coal production offsets declines in natural gas production. EIA expects production of all fossil fuels—crude oil, coal, dry natural gas, and natural gas plant liquids (NGPL)—to increase in 2022, but forecast fossil fuel production will remain lower than the 2019 peak. More »

U.S. oil and natural gas production to fall in 2021, then rise in 2022

In its January 2020 Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts that annual U.S. crude oil production will average 11.1 million b/d in 2021, down 0.2 million b/d from 2020 as result of a decline in drilling activity related to low oil prices. A production decline in 2021 would mark the second consecutive year of production declines. Responses to the COVID-19 pandemic led to supply and demand disruptions. EIA expects crude oil production to increase in 2022 by 0.4 million b/d because of increased drilling as prices remain at or near $50 per barrel (b). More »

EIA expects higher wholesale U.S. natural gas prices in 2021 and 2022

In its January 2021 Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts that the annual natural gas spot price at the Henry Hub will rise 0.98¢ per million British thermal units (MMBtu) to average $3.01/MMBtu in 2021. EIA expects higher natural gas prices will prompt dry natural gas production to increase in the second half of 2021, after reaching a monthly low of 87.3 billion cubic feet per day (Bcf/d) in March 2021. On an annual basis, EIA forecasts that dry natural gas production will decline from an average of 90.8 Bcf/d in 2020 to 88.2 Bcf/d in 2021. Since early 2020, natural gas production has fallen amid low natural gas and crude oil prices. More »

Nuclear and coal will account for majority of U.S. generating capacity retirements in 2021

According to the U.S. Energy Information Administration's (EIA) latest inventory of electric generators, 9.1 gigawatts (GW) of electric generating capacity is scheduled to retire in 2021. Nuclear generating capacity will account for the largest share of total capacity retirements (56%), followed by coal (30%). More »

Renewables account for most new U.S. electricity generating capacity in 2021

According to the U.S. Energy Information Administration's (EIA) latest inventory of electricity generators, developers, and power plant owners plan for 39.7 gigawatts (GW) of new electricity generating capacity to start commercial operation in 2021. Solar will account for the largest share of new capacity at 39%, followed by wind at 31%. About 3% of the new capacity will come from the new nuclear reactor at the Vogtle power plant in Georgia. More »

Wholesale U.S. electricity prices were generally lower and less volatile in 2020 than 2019

During 2020, wholesale electricity prices at major trading hubs in the United States were generally lower than in 2019, although prices in the western states trended higher in the last half of the year. Compared with 2019 prices, these wholesale hub prices in 2020 ranged from 5% lower in the California Independent System Operator (CAISO) market to 45% lower in the Electric Reliability Council of Texas (ERCOT) market. Monthly wholesale electricity prices were also generally less volatile in 2020 than in 2019. More »

EIA releases new U.S. Energy Atlas with updated maps and enhanced navigation

Today, the U.S. Energy Information Administration (EIA) released the U.S. Energy Atlas, a new interface for web map applications and a comprehensive open data catalogue. The U.S. Energy Atlas shows detailed energy infrastructure in redesigned maps with enhanced navigation and data accessibility features. With the U.S. Energy Atlas, users can now combine EIA's data with information from other sources to customize their own geospatial analysis. More »

EIA releases new U.S. Energy Atlas with updated maps and enhanced navigation

Today, the U.S. Energy Information Administration (EIA) released the U.S. Energy Atlas, a new interface for web map applications and a comprehensive open data catalogue. The U.S. Energy Atlas shows detailed energy infrastructure in redesigned maps with enhanced navigation and data accessibility features. With the U.S. Energy Atlas, users can now combine EIA's data with information from other sources to customize their own geospatial analysis. More »