Today in Energy
Rail deliveries of U.S. oil continue to increase in 2014
Note: Values in graph represent monthly averages of weekly rail carloadings.
The amount of crude oil and refined petroleum products moved by U.S. railroads increased 9% during the first seven months of this year compared with the same period in 2013. In July, monthly average carloadings of oil and petroleum products were near 16,000 carloads per week, according to the Association of American Railroads (AAR). The increase in oil volumes transported by rail reflects rising U.S. crude oil production, which reached an estimated 8.5 million barrels per day in June for the first time since July 1986.
Tags: crude oil , liquid fuels , North Dakota , rail
Everywhere but Northeast, fewer homes choose natural gas as heating fuel
Note: Geographic areas based on Census regions. LPG is liquefied petroleum gas.
For the next two weeks (Dec. 22 - Jan. 2), Today in Energy will feature a selection of our favorite articles from 2014. Today's article was originally published on September 25.
On a national basis, natural gas has long been the dominant choice for primary heating fuel in the residential sector. Lately, electricity has been gaining market share while natural gas, distillate fuel oil, kerosene, and liquefied petroleum gas (propane) have declined.
Oil and natural gas sales accounted for 68% of Russia’s total export revenues in 2013
Note: Natural gas includes liquefied natural gas (LNG) sales.
For the next two weeks (Dec. 22 - Jan. 2), Today in Energy will feature a selection of our favorite articles from 2014. Today's article was originally published on July 23.
Russia is a major exporter of crude oil, petroleum products, and natural gas. Sales of these fuels accounted for 68% of Russia's total export revenues in 2013, based on data from Russia's Federal Customs Service. Russia received almost four times as much revenue from exports of crude oil and petroleum products as from natural gas. Crude oil exports alone were greater in value than the value of all non-oil and natural gas exports.
Tags: international , liquid fuels , LNG (liquefied natural gas) , natural gas , oil/petroleum , Russia
Power sector employment declines, except for renewable electricity generators
Note: 2014 data are preliminary.
The electric power generation sector lost more than 5,800 jobs from January 2011 through June 2014 despite a gain of nearly 1,800 non-hydro renewable electricity generation jobs, according to the latest data available from the Bureau of Labor Statistics (BLS).
Wind power capacity additions expected to increase in last quarter of 2014
Note: Data include facilities with a net summer capacity of 1 MW and above only. Data are reported as of November 25, 2014, covering through September of 2014. Data are based the reported online dates of currently operational or planned wind generation facilities. The "<2005" category includes all currently operational projects added prior to 2005.
On December 16, the Senate approved a bill (already passed by the House of Representatives on December 3) that retroactively extends the federal production tax credit (PTC) for wind plants, which had previously expired at the end of 2013. However, because of timing, this extension is unlikely to spur significant additional wind development activity beyond what installers had already planned. First introduced in 1992, the PTC allows eligible wind generators to take an inflation-adjusted tax credit per unit of generation (2.3 cents per kilowatthour in 2014) for the first ten years of operation.
Tags: capacity , electricity , generation , renewable , wind
OPEC net oil export revenues expected to fall in 2014 and 2015
Note: OPEC is the Organization of the Petroleum Exporting Countries. Iran is excluded because current sanctions make it difficult to estimate revenues. The 2014 revenue estimates are subject to revision as historical production and consumption data are updated.
Based on crude oil market assessments in the Short-Term Energy Outlook, EIA estimates that members of the Organization of the Petroleum Exporting Countries (OPEC), excluding Iran, will earn about $700 billion in revenue from net oil exports in 2014, a 14% decrease from 2013 earnings and the lowest earnings for the group since 2010. OPEC earnings declined in 2014 largely for two reasons: decreases in the amount of OPEC oil exports and lower oil prices, with the 2014 average for Brent crude oil projected to be 8% below the average 2013 price.
Tags: financial markets , international , liquid fuels , oil/petroleum , OPEC
U.S. household gasoline expenditures in 2015 on track to be the lowest in 11 years
The average U.S. household is expected to spend about $550 less on gasoline in 2015 compared with 2014, as annual motor fuel expenditures are on track to fall to their lowest level in 11 years. Lower fuel expenditures are attributable to a combination of falling retail gasoline prices and more fuel-efficient cars and trucks that reduce the number of gallons used to travel a given distance.
Tags: forecast , gasoline , liquid fuels , oil/petroleum , prices , transportation
Gasoline prices tend to have little effect on demand for car travel
Note: VMT is vehicle miles traveled. Per capita figures reflect U.S. population age 16 and over. Vehicle miles traveled figures are 12-month rolling averages.
Republished December 17, 2014, 2:00 p.m. to correct an error in the graph.
The U.S. average retail price per gallon of regular motor gasoline has fallen 28% from its 2014 peak of $3.70 per gallon on June 23, to $2.68 per gallon on December 8. However, this price decline may not have much effect on automobile travel, and in turn, gasoline consumption. Gasoline is a relatively inelastic product, meaning changes in prices have little influence on demand.
Tags: demand , gasoline , prices , retail prices , transportation , United States
Despite lower crude oil prices, U.S. crude oil production expected to grow in 2015
Republished December 12, 4:00 p.m. to update data.
The recent decline in crude oil prices has created the potential for weaker crude oil production. EIA's Drilling Productivity Report (DPR) includes indicators that provide details on the effect low prices may have on tight oil production, which accounts for 56% of total U.S. oil production. Analyzing these indicators and the changes in oil production following the drop in crude oil prices during the 2008-09 recession may offer some insight into possible near-term oil production trends.
Tags: crude oil , drilling , Drilling Productivity Report , liquid fuels , North Dakota , oil/petroleum , states
Several states are adding or increasing incentives for electric vehicle charging stations
During the past few years, several models of plug-in electric vehicles (PEVs), including battery electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs), have been introduced in the light-duty vehicle market. PEVs are limited by driving range, which is related to battery capacity, and can usually travel between 60 and 200 miles before recharging. Therefore, charging infrastructure is crucial to the success of these kinds of vehicles. To address this issue, states have established plans to promote the development of infrastructure through financial incentives for the building of new public and private recharging facilities.
Tags: California , electricity , light-duty vehicles , Oregon , states , transportation , Washington
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