Pump prices are about to hit $2.70 per gallon nationwide, and oil has remained above $70 per barrel for several days. Most of the increase has come on expectations of economic recovery – like today’s increase in projection for China’s 2009 growth to 7.2% rather than 6.5% by the World Bank. But even more positive economic news will struggle to increase prices much more unless fuel inventories fall from (more…)
Posts Tagged ‘energy’
Oil prices rise, but supply still high
Thursday, June 18th, 2009EIA Report: US emissions to tank ~3.5% in ‘09
Wednesday, June 10th, 2009
The US Energy Information Agency (EIA) has further lowered its emissions projection for 2009 this month, as I said in May was likely. Lower coal consumption drives the reduction, based on the drop in industrial demand for fuel and the substitution by natural gas for coal for (more…)
Gas price passing diesel
Wednesday, May 13th, 2009
As I wrote two months back would happen, the price of gasoline is catching up with diesel after a couple years of separation. A year ago, diesel would cost you 60 cents more than gasoline. But looking at the trends in pump prices over the last few days, parity should be reached by (more…)
Oil & Gas Prices Back on the Rise
Thursday, May 7th, 2009The prices of oil and natural gas appear to have bottomed now. But with inventories near record levels, a quick price spike much higher doesn’t seem sustainable in the short-term. Yesterday, the US Energy Information Administration (EIA) weekly petroleum report clearly showed that recessionary low demand continues to dominate (more…)
Recession Demand Sends Fuel Inventories Toward Record Highs
Thursday, April 16th, 2009This past quarter was another tough one for the US economy. Industrial production sank to a record low in March below 70% of capacity. The resulting lower demand for fuels is sending storage levels toward record highs. The EIA reported this morning that natural gas rose another (more…)
New Report: US emissions to fall another 2.5+% in 2009
Wednesday, April 15th, 2009
In February, I shared that the US Energy Information Administration (EIA) predicted lower greenhouse gas emissions from US energy consumption in 2009. Their earlier projection of ~2% lower emissions just shifted in their April report to a much lower (more…)
Oil Report Shows Global Emissions May Fall in 2009
Friday, April 10th, 2009
For the first time since the last oil shock of the early 1980s, global greenhouse gas emissions are poised to fall significantly. The International Energy Agency (IEA) just released its monthly oil report within which they lowered oil demand projections by 1 million barrels per day (Mbd) from last month. Such a fall in consumption brings total demand down 2.4 Mbd (2.8%) from 2008 and translates into a fall in carbon emissions by (more…)
High US Oil Supply can Handle 2009 Mexico Oil Decline
Wednesday, April 1st, 2009Today’s EIA petroleum report shows that storage of all major petroleum products are now above average. Even the prospect of lower oil supplies from Mexico don’t threaten our situation through the summer. Higher oil prices the last few years drove a domestic drilling boom that is finally paying off through a substantial increase in US oil production. The question is, how long will (more…)
SET to be Featured Monday on NY’s WFMU.org
Sunday, March 29th, 2009
Image from rushkoff.com
Sustainable Energy Transition (SET) will be featured in its first New York radio spot this coming Monday night 7-8pm. I will be interviewed live by new media and pop culture author and professor Douglas Rushkoff on his new show, The Media Squat. The interview will probably be around 10-15 minutes and in the first half of the show. So if you’re interested in hearing a voice connected to the blogs, (more…)
US Oil Imports Down, Supplies Ample
Wednesday, February 25th, 2009US oil imports are falling quickly in 2009, since our demand is lower and our domestic production strong. Today’s US Energy Information Agency (EIA) weekly petroleum report showed crude oil imports down more than 10% from the same week in 2008, and production up around (more…)