The price of oil is retracing its 2004-05 climb rather quickly of late. While some of the rise in oil prices relates to supply concerns from Nigeria and a perceived stabilization in the economy, it is also linked to (more…)
Posts Tagged ‘EIA’
Why Does EIA Underestimate Future Wind Power Growth?
Friday, April 3rd, 2009
As I shared yesterday, the US Energy Information Administration (EIA) expects wind power to grow from today’s ~25 GW to just 52 GW by 2030 in its reference scenario plus Production Tax Credit (PTC) extension. I think wind will grow more than twice as fast as the EIA projects. And here’s why… (more…)
US Govt Report: BAU Carbon Emissions Growth Much Slower to 2030
Thursday, April 2nd, 2009
The Energy Information Administration (EIA) released their Annual Energy Outlook (AEO2009) this week and their numbers are a lot better than last year when the climate is concerned. It’s exciting to see the progress. But reference scenarios still have emissions growing throughout the period, so we have plenty of work to do. For now, let’s look at the numbers they present… (more…)
US Oil Supplies Climb Further – Records May be Tested
Wednesday, March 18th, 2009
The US Energy Information Agency reported another build in fuel supplies last week on low demand and high production. If crude supplies continue on this trajectory another few weeks, they may hit record levels. And lower heating needs from the fast-approaching Spring mean that diesel prices are indeed close to the parity with gasoline I mentioned (more…)
Economic Woes Subdue Global Oil Demand Further
Wednesday, March 11th, 2009
Global GDP forecasts for 2009 fell again this week as news of contraction emerged in recent economic powerhouses such as Australia, Brazil, and even China. And since oil demand is closely linked to economic output, the 2009 forecast is for even lower demand than the EIA projected last month. They now see global oil consumption falling (more…)
EIA: US carbon emissions to fall further in 2009
Tuesday, January 13th, 2009According to today’s release of the US Energy Information Agency’s Short Term Energy Outlook (STEO), US emissions will continue to slide in 2009. They predict lower energy consumption as our economy shrinks 2% in the coming year. Their preliminary estimate of fossil fuel consumption in 2008 leads me to estimate carbon dioxide emissions fell at least 2.5% this past year, and their projections for 2009 would lead to a further reduction of (more…)
EIA Announces Climate Progress in 2030 Outlook
Thursday, December 18th, 2008 The US Energy Information Agency (EIA) released a preview of yet another exciting energy document yesterday, their Annual Energy Outlook (AEO) to 2030. This year’s AEO 2009 showed dramatic shifts from last year that can help us achieve carbon emissions reduction toward stabilizing our global climate. But it also shows we have more (more…)
Record OPEC cut overshadowed by recession
Wednesday, December 17th, 2008
Even OPEC’s announced cut of 2.2 million barrels per day (Mbd) couldn’t send oil prices higher today. Recessionary demand continued to out-muscle supply cuts as prices remained below $45 per barrel (more than $100 below the July peak). Two new reports confirming US demand woes ruled another day of oil price determination. (more…)
Gasoline Supplies at Record Low, Ike Maintains Grip on Oil Market
Wednesday, September 24th, 2008The EIA weekly oil report just came out. And as I’ve been writing for days, it wasn’t pretty. Gasoline inventories fell to their lowest level since the 1960s — when gasoline demand was around half of what it is today. This thin margin of supply over demand has already resulted in 10+ days of shortages in (more…)
Natural Gas inventories remain below average, oil reports published
Thursday, July 10th, 2008The EIA just released its weekly inventories data for natural gas, reporting that the build in inventories was again below average at 90 billion cubic feet (bcf) to the level of 2,208 bcf (or 15% below last year and 3.1% below the five-year average). With reduced supplies and demand over 2% above last year, these are strong fundamentals for the doubling of natural gas’s price over the last year. Whether the price continues to rise toward records depends on the tightness of LNG markets in the international market, the ability of Canada (our largest source of imports) to prevent large declines in their production, and of course our ability to use electricity more efficiently.
In oil, OPEC released its market projections to 2030 and (more…)